Product Life Cycle of Apple Inc.’s iPod
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The Apple, Inc. is one of the world’s leading manufacturers of consumer electronics. They introduced the iPods MP3 player to the market world in 2001, instantly becoming the favored portable music players. The Apple’s iPods MP3 where designed with a large storage capacities. The key purpose of the Apple Company introducing this product is to make use of the consumer’s requirements for earning revenues for the company. Their purpose was to make traveling for the consumers more pleasurable and enjoyable. In order to fulfill this goal, The Apple Inc. decide the wanted a superior products with huge storage capacity and ...view middle of the document...
As a result of the marketing and promotional strategies of Apple, the sale of the iPod MP3 players started to boost an increase in their revenues. Then company as it pertain to iPod MP3 sales witnessed an increase growth. The demand of the iPod was increasing as the product was receiving the word of mouth exposure from their loyal customers and customers alike. The Apple Company began taking the profit and using it to improve the market share, which made the iPods MP3 more readily available and also introduced some innovative models of the product as well. In order to out sale the competition, the company also incorporated some more distinctive features in their basic iPod MP3 players (Kotler, 2003).
With the constant rapid changes in technology and the increasingly changing features of mp3 players have force the product to enter into the Maturity phase of its life cycle. This has been recognized from the following reason causing needed changes in the product:
• Apple decides to decrease its cost for its iPod MP3 players and is now well recognized in the market as the most popular iPod player.
• The financial reports of Apple began to show an increase in sales volume of the iPod immediately.
• Apple has raised the augment its competitive offerings of the iPods to counter with their competitors in the market.
• Apple has also lowered its prices due to the enhancement of competing with others in the products market.
• The company started seeking brand differentiation and feature diversification since each player seeks to differentiate from competitors (Ramaswamy &...