The company for which I will be developing a new product is Apple. Apple is one of the most successful businesses in today’s world, and many businesses have patterned their business models after this tech giant. In fact, in June 2023, Apple’s market value skyrocketed to over three trillion dollars (Bold Business, 2023, para 1), and the momentum created by this Fortune 500 company does not seem to be on trend to cease any time in the near future. Therefore, this is the company with whom I am partnering for this course project.

Apple’s Success As a Company

There are a wide variety of reasons behind Apple’s success, including the following:

1. robust brand product, design, and reputation
2. high-end products with an optimized supply chain to minimize costs and maximize profits
3. diversified streams of revenue
4. solid and loyal customer base who appreciate the seamless way all Apple products work together
5. strategic business acquisitions
6. significant cash reserves for optimal financial flexibility (tutor2u, 2023)

While certainly not a comprehensive list, these are the top reasons Apple has continued to be one of the most successful companies in the world. It is a distinct pleasure to suggest launching a new product for their ever-expanding inventory. I desire to learn from one of the best companies out there as I dive into research and maximize my understanding and application of their top marketing and company principles.

The Apple Smart Mattress Introduction

My suggestion for an Apple product launch is that of a smart mattress health system that is operated on foundational artificial intelligence (AI). This smart mattress takes advantage of new technology that provides the owner with not only optimal sleep but also a complete breakdown and tracking of all significant functional health systems in the body. Even though cutting-edge technology and products similar to this idea already exist in small pockets of the global business world, this will be the first product of its kind produced by Apple. Like other similar “smart mattresses,” it will collect data on the length, quality, stages, and position of your sleep every night (Leamey, 2024), but this mattress will delve much more deeply into your health. The mattress will track circulatory and nervous system statistics as you sleep, and it will compile them into a personalized health report with specific recommendations users can discuss with their healthcare practitioners. In short, this mattress can be marketed with certainty as the first and only mattress that can “save your life.”

Primary Marketing Research

As I work with Apple’s team to develop this new smart mattress, my first task is to decide whether the company will focus on primary or secondary research. Because Apple is a successful company with a devoted customer base, primary research will be the better choice since it goes directly to the customers to ask questions and gather information (The Hartford, n.d.). Secondary research relies on historical data and research that has already been compiled and published, and because this product is so new, it will be more challenging to find research that has already been conducted on smart mattresses. Moreover, since Apple is committed to providing quality products that do it better than everyone else, primary research will be much more helpful in the development and launch of this smart mattress.

Research and Design Objectives

As the team at Apple develops this product, it will focus on the following research and design objectives (Coville, 2023):

1. Set clear and compelling objectives and scope based on the company’s focus and mission statement.

For this step, Apple will focus on internal and external stakeholders who have a several-year history with Apple products. It will also develop a “look-alike” audience similar to this audience who has little to no experience with Apple products. These selected audiences will primarily be millennials of upper-middle-income and higher since this mattress is a higher-end product. The audience will need to be interested in their health and be willing to take surveys, serve in focus groups, and review a beta version of the product with appropriate compensation for thorough and fair reviews. This marketing research will last a good year and will give Apple ample time to research and adapt the product and promotions based on timely and relevant feedback.

2. Conduct qualitative and quantitative data collection and analysis. 

As surveys, focus groups, and beta testing are set up, consideration will need to be made for both types of data collection and how each will be explicitly used in the research process. Because this is a new product for Apple and it delves into a field in which Apple has only dabbled (its Apple watch is its only current health-related product), quantitative research, which is broader and focuses on larger sample sizes, is where Apple will begin.

In order to measure interest in various features and offerings with this mattress, Apple will send out surveys to a wide section of its customers and potential customer base as defined in its objectives. These surveys will be compiled and categorized so as to find the top offerings customers want in a smart mattress. From there, Apple will randomly select some survey respondents for further phone research surveys that go a little bit deeper. Responses will be used to create and adapt the product.

Qualitative research, which focuses on smaller sizes in order to explore more deeply, will take place about six months after the first survey. This will involve the creation of high-functioning focus groups to explore ideas raised by the surveys. From these focus groups, a very select few will be chosen to be involved in a beta testing program of the smart mattress, which will include much more extensive surveys and reviews in order to make last-minute alterations to the final product.

Conclusion

By investing time and resources in primary market research such as this, Apple can ensure that the launch of this new smart mattress will be successful and cost-effective. Moreover, by doing this research, Apple can be assured of the following (LA New Product Development Team, 2022):

1. Know and project accurate profits before inviting investors to pledge money towards the product.
2. Research customers and competitors in order to develop the best product that is sure to be successful.
3. Know market trends and strategize how to implement these with the product and promotions.
4. Develop and launch the most successful product that will become the industry standard for all smart mattresses going forward.

References

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