It also involves the attraction of users of the competitor’s product so that sales can be increased and higher market share can be attained (Cavusgil and Zou, 1994). Ferrell and Hartine (2010) indicate that the firm success is highly dependent upon the marketing strategies. Intelligent Virtual Assistant (IVA) Market Size, Share & Trends Analysis Report. Fortune Global 500. With respect to iPad, Apple Inc has started marketing its product initially from politically stable countries such as US, UK, Australia etc and soon thereafter, it has started its marketing programs to be specifically targeted at developing countries such as India, China etc. For more information on how to do a SWOT analysis please refer to our article. The selection of target market is essential because an appropriate selection of target market would ensure the effective positioning of the product among the targeted consumers for whom the product has been designed and ultimately ensures higher level of success (Pride and Ferrell, 2012). He's been using his knowledge on strategic management and swot analysis to analyze the businesses for the last 5 years. Â© 2013-2020 SM Insight. Available at: https://www.idc.com/, Identity Theft Resource Center (2019). In addition to this, iPad 3 also shows certain symptoms of problems with respect to battery charging as users have complained that it takes huge time in charging the battery of iPad 3. Threats: The main threats to Apple iPad 3 is the increasing competition from the other major players in the industry and the introduction of low cost tablets is also posing significant threats to the success of iPad. Available at: https://www.cnet.com/, Grand View Research (2019). This is because, the intention of the firm is to sell higher products and an effective marketing program is essential for attaining such goals of higher sales. Available at: https://fortune.com/, Interbrand (2019). 2017 Winning Brands - Brand Keys Customer Loyalty Engagement Index. Available at: https://www.idc.com/, Research and Markets (2018). Marketing strategies as identified by Ferrell and Hartine (2010) suggests that it is people driven and it never remain stagnant (Ferrell and Harline, 2010). 2014 Winning Brands - Brand Keys Customer Loyalty Engagement Index. Marketing is one of the most important tasks that are required to be performed in the instance of launching a new product. Global Apple iPhone sales from 3rd quarter 2007 to 4th quarter 2018 (in million units). Here’s a detailed analysis of Apple’s strengths, weaknesses, opportunities, and threats. The iPad product of Apple is also launched in a number of series, as iPad was first launched in April 2010 and since them, Apple has launched second generation and third generation of iPad known as iPad 2 and iPad 3. iPad 3 is the most recently launched iPad of Apple and it includes various new features as compared to iPad 2. Recently, the company has focused its efforts to strengthening its own in-house advertising and marketing teams by attracting a lot of new talented people to the internal agency. Available at: https://www.apple.com/, Fortune (2019). When people mention it, they’re either talking about the fruit or … According to BankMyCell, Apple retains 74.6% of its customers, compared to Samsungâs retention rate of 63.9% and LGâs 40.7%. Available at: https://brandkeys.com/wp-content/uploads/, Brand Keys (2017). Economic Factor: The performance of the economy in terms of GDP growth, unemployment and inflation rates etc also has a significant impact on the performance of a company. Available at: https://www.interbrand.com/, Forbes (2020). The effectiveness of the marketing strategies is highly essential for the success of a product. Available at: https://brandkeys.com/wp-content/uploads/, Brand Keys (2014). Still, here are 3 weaknesses which Apple might be facing. Retail Stores. The success of a product to a larger extent depends upon the appropriate setting up of marketing objectives and with respect to iPad 3, the market objectives are indicated below: In order to attain the leading position for iPad 3 in the entire tablet industry, it is essential that it should be accompanies by effective marketing strategies. As a result, the target market segment should include the professionals working in organisations that seek to remain in touch with others while on move. Political Factor: Monopolistic development behaviour is adopted by Apple Inc with respect to its iPad 3 and this is clearly evident from the fact that there are specific programs that are being developed and they works only with iPad. As in case of iPad 3, the most effective marketing strategy for Apple Inc in marketing its product is the combination of market penetration and market development strategy. Apple as a company does not have any threat. Smartphones. This Apple SWOT analysis reveals how one of the most successful worldâs companies used its competitive advantages to become the dominant player in the tech industry. Hi Hitesh, how can I contact you privately? One of the most loyal customer base in every major product market where the company operates. If you want to find out more about the SWOT of Apple, youâre in the right place. Thus, the situation analysis as performed has indicated deep insights about iPad 3 and this could be utilised in designing effective marketing strategies for marketing iPad 3. An effective marketing of the newly developed device is essential so that it can be targeted among majority of its customers. Why iPhone X Isn't The Answer To Apple's China Problem. Apple competes primarily on price, product and service features, quality and reliability, design innovation, a strong third-party software and accessories ecosystem. To promote iPad 3 as complete solution for all the features that customers look in a tablet. Available at: https://abc.xyz/investor/. Available at: https://brandkeys.com/wp-content/uploads/, Brand Keys (2016). Form 10-K for the Fiscal Year Ended December 31, 2018. iPad 3 is an important electronic device by Apple Inc that is recently launched by the company in order to cover up majority of the market share for tablets. As for instance, some of its main feature includes retina display, amazing battery life of 10 hours, 5 megapixel iSight camera, ultrafast 4G LTE, iOS and iCloud, etc. Your email address will not be published. You can download your swot instantly after the payment. Form 10-K for the Fiscal Year Ended June 30, 2019. The preference for on-the-go devices is higher among the modern consumers as they prefer to remain in contact with others while on the move. Selection of Target Market: The task of marketing is not easy and it is poised with numerous problems to the company intending to market its products and services. Here's how. His interest and studies in strategic management turned into SM Insight project, the No.1 source on the subject online. Since iPad is an Apple’s application, it runs programs that are approved by Apple only.