Technological Advancements: iPhone 5 Scenario - Essay Example

? IPHONE 5 SCENARIO Massive technological advancements in the past decade have prompted companies to develop sophisticated telecommunication products. This is in a bid to address the dynamic consumer tastes and preferences. Apple Company is one of the companies that have been directly affected by the changing market trends. It deals with the manufacturing and marketing communication as well as media devices, digital music players and personal computers. Additionally, it sells wide ranging related software, peripherals, services and networking peripherals amongst others. With respect to the scenario under review, Apple is reportedly the first company to adopt and use relative technology, second generation LTE thin chips from Qualcomm Company. This has given it an upper hand and a competitive edge against its competitors in the telecommunications sector. Using the latest technology, it has been able to explore technological resources and use these in addressing wide ranging and emerging consumer needs. One of the devices that it has manufactured and which it wishes to sell includes the iPhone 5. The main aim for this is to present to the consumer base a smart telecommunication device with ideal features. The purpose of this paper is to undertake research regarding consumer perceptions and expectations of this product. Findings would be instrumental in ensuring that the product is customized to meet consumer needs. This will ensure that its performance in the market is optimal. In addition, the research would provide useful insights regarding consumer trends and changes in tastes and preferences. Based on this, Apple will be able to use its creativity in ensuring that relative needs and preferences and met accordingly. Besides this, market research will provide important information about the innovations of apple’s competitors. Knowledge about the performance of its competitors is vitally important in informing vital decisions. Specifically, Apple will use this information to devise ideal ways through which it can compete more favorably in the market. Electronic and telecommunication products and services are sensitive and undergo various changes within a short period of time. In their research, Blankenship, Breen and Dukta (1998) found out that a significant percentage of the population fancy latest electronic products which meet their tastes and preferences. This can be used to explain why most of the users of iPhone 4S are not happy with the latest development. Ideally, they will be forced to purchase the new product in order to be at par with the market trends and lifestyle expectations. Previous trends regarding the performance of iPhone 4S in the market indicate that the sale of iPhone 5 would be a success. In this respect, a significant percentage of the population that purchased iPhone 4S had never used an iPhone before (Johnson, 2011). Market research ascertains that although iPhone 4 met most of the consumer needs, its low battery and storage capacity limits its effectiveness. Consumers are, thus, still searching for a product that would meet their needs, tastes and preferences in this respect. In their review, Hair, Wolfinbarger, Bush and Ortinau (2009) posit that iPhone 5 provides the best opportunity for Apple to address these needs. Statistical evidence shows that a significant 35% of the consumer base has promised to buy the product immediately it is introduced in the market (Johnson, 2011). Aggressive marketing can go a long way in increasing this to a greater percentage. Previous trends indicate that consumers tend to gain confidence with a product after it is introduced and tested in the market. Research tools are instrumental in collecting vital data from the respondents. At this point, it is worth appreciating that the data collected is instrumental in credible decision making. It should therefore not only be comprehensive but also representative of the views of the consumer base. This would ensure that decisions made are based on informed thought. This study would utilize a likert scale and questionnaire in collecting data. A) Questionnaire Name: Occupation: 1. Are you conversant with the iPhone 4? Yes/No (Tick one) 2. If yes, does it meet your needs and preferences? Yes/No (Tick One) 3. If no, what features would like improved upon or incorporated in this?....................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... 4. Have you heard about the iPhone 5? 5. If all the above features would be included, would you purchase the product? 6. What more feature can Apple incorporate to make the product more effective or functional?............................................................................................................................................................................................................................................................................. B) Likert Scale Name: Occupation: How would you rate the quality of the following iPhone 4 features? (1represents very good, 2, good, 3, fair, 4, bad, 5, very bad) (Tick accordingly) a) Battery 1 2 3 4 5 b) Storage capacity (Memory) 1 2 3 4 5 c) Portability 1 2 3 4 5 d) Camera 1 2 3 4 5 e) Sound 1 2 3 4 5 f) Chipset 1 2 3 4 5 g) Display 1 2 3 4 5 h) Central processing Unit (CPU) 1 2 3 4 5 i) Sensors 1 2 3 4 5 j) Messaging 1 2 3 4 5 k) Radio 1 2 3 4 5 l) Browser 1 2 3 4 5 m) Colors 1 2 3 4 5 n) Java 1 2 3 4 5 o) Body 1 2 3 4 With regard to sampling procedures, Apple should pursue an online approach. According to Hair et al. (2009), a significant percentage of the consumers are available online. Most of them are students and professionals working in various fields. Amongst other things, they require a product that would enable them interact socially and store voluminous data at the same time. Furthermore, they require a product that would cater for their entertainment and communication needs and which has a long battery life. In selection of a sample, it is important to select one that fits the preceding expectations and thus captures the needs of the wider population. In this respect, an ideal sample should have a total of three hundred participants. These should be drawn from across the globe because the company sells its products on a global market. Half of these should be students and the rest professionals in different fields of specification. These can be identified on social networking sites and should be gender sensitive. Since most of these leave their personal contacts such as emails on the sites, they would be contacted through this. Their permission to participate in the study would be sought before presenting them with the preceding data collection instruments. Upon committing themselves and being mailed the research instruments, they would be given a total of ten days to respond. The researcher would be in constant communication with them to address any concerns regarding clarifications. Various more incentives will be used to enhance optimal participation by the respondents. This includes providing them with free information about other company products and offering them free samples of certain products form the company. This would be done after they have completed the exercise. This research would provide useful insights regarding consumer expectations of the iPhone 5. In particular, information collected would inform the company about the specific features that consumers prefer. In the current technologically volatile environment, knowledge of consumer preferences is paramount. This enhances the performance of the product in the market. The underlying aim of the manufacturer is to optimize profits. This cannot be attained if the product performs poorly in the market. Also worth appreciating is the fact that there is stiff competition in the market. In this regard, there are various companies manufacturing similar products in the market. These range from smart phones to personal computers, itunes and ipods. Developing a sophisticated iphone that performs integrated functions and whose features conform to consumer preferences would be beneficial. This can only be attained if market research is conducted before hand. The recommended plan should be implemented because it is not only effective, but also cost effective. References Blankenship, A., Breen, G., & Dukta, A. (1998). State of the art marketing research. USA: McGraw Hill. Hair, J., Wolfinbarger, M., Bush, R., & Ortinau, D. (2009). Essentials of marketing research. USA: McGraw Hill Johnson, L. (2011). 35pc of consumers expected to buy iphone5: pricegrabber. Retrieved 18th May, 2012 from: http://www.mobilemarketer.com/cms/news/research/10536.html Read More