Tfactors Affecting Product Marketing

Question: Write an essay about the "tfactors affecting product marketing". Answer: Section I 1.1 Introduction Marketing is a process that is used by the companies to create the communication with the consumers and the process of increasing the value of the company before the consumers with raising the demand of their products in the market (Gohary, 2012). In this process of marketing the organisations has to face many problems internally and externally. Therefore, every organisation has to concentrate on the factors that affect the marketing of the product. According to Alon, Jaffe and Vianelli, (2013), there are two types of factors that affect a products marketing procedure. The external forces are cannot be controlled by any company or organisation. The factors that affect the marketing of any product are mainly the competition, natural forces, social and cultural forces, government policies, demographic factors and technological changes (Evanschitzky et al. 2012). These factors can change a products image in the market. Apart from this, there are some internal factors too that also influ ences the marketing of any product. These factors are profitability, production capacity, demand of the product, production costs, government rules and regulations, objectives and policies of the organisation etc (Sun, 2014). If an organisation fails to identify the factors whether internal or external then the company will loss for the particular product for using wrong marketing policies. In this research proposal, the researcher is selecting the product of Apple, which has faced some problems regarding the marketing. The iPhone S6 Gold has faced the problems regarding the external and internal factors in the time of marketing. This phone has faced the problem regarding its pricing policy that was very high for the customers of middle class segment (Alexander, 2016). In the case of this phone, the company has set a price level that is not affordable by all the customers and therefore in the time of marketing the target market or the segmentation of their customers became very small. According to Ifrach and Johari, (2014), this marketing policy has affected by the internal factor of setting the price level that has lessen their sell of the product in the future. Therefore, it is an important factor for any organisation to set a proper pricing range for their products that cannot affect the sale of their products. The products are affected by those factors, which can re duce the rate of marketing process of the particular product. Therefore, the companies have to consider these factors whether they are external or internal in the time of setting their marketing policies. The external factors too have an influence over the marketing policy of any company. The company has selected the premium price for the product, which was not accepted by the middle class customers who cannot afford the product in their daily life to use. Therefore, it is seen that the products of various companies are affected by the external and internal factors, which can drop the sale of the product. 1.2 Problem Statement The study is considering the issue of the Apples product iPhone S6 Gold that has created the problem in the market after it was launched in the year of 2015 (Froud et al. 2014). The main issue of the research is to understand the impact of the external and internal factors that are affecting the marketing of a product of any organisation. As the competition is increasing day by day in the business then all the companies are trying to increase their possibilities to enhance their business with launching new and innovative products daily. Therefore, the factors that are affecting the new products in the time of marketed g are very vital to understand the organisations to achieve their organisational goals and objectives. In this case, the researcher has discussed the issue of the iPhone S6 Gold that has faced the problem during the marketing of the product (Laitinen, Laitinen Saukkonen, 2016). The company has set the price of the product very high and the customers of the middle class level cannot afford the price level of the product. The issue is now very important as the issue is creating a massive loss for the company due to using the wrong marketing policy. The company has used the premium price for the product as they thought that they have used various innovative features and therefore the price of the product must to set on a high range. However, the high price of the product has created a bad effect on the customers that the company only think about a particular segment of the customers (Zoellner Schaefers, 2015). The company has to face this problem in the time of marketing this product regarding this internal factor of pricing strategy. This wrong strategy has influenced the sale of Apples new product iPhone S6 Gold that was only appropriate for the small segment of the customers. Due to the high competition, the market was focussed only in a particular sector of customer who belongs to the high class of the society (Cho, Kumar Telang, 2016). Therefore, it was the issue for the company that the externa l and internal factors of premium pricing and customers reaction towards the product during the marketing of the iPhone. The research will shed light on this issue that the companies has to focus on the factors that affects the products marketing and according to the requirement of the customers the marketing policies has to be framed. 1.3 Research Objectives/Questions The aim of this proposal is to find out the factors that affects the marketing process of a product of any organisation. In evaluating this, the researcher will also focus on the factors that have affected the Smartphone of Apple. The researcher has set some objectives for the research paper to conduct it properly and to meet the final destination of the research. The objectives are follows To understand the factors, external and internal both, of marketing a product To explore the impact of the external and internal factors on marketing of a product To evaluate the factors that has influenced on the marketing of the Apples iPhone S6 Gold To recommend some strategies for the company to overcome this situation that the product can be marketed properly The researcher has set some research questions to find out the research aim. The research questions are Q1. What are the factors that affect the marketing of a product? Q2. What are the impacts of external and internal factors in the time of marketing a product? Q3. What are the factors that Apple has faced in the time of marketing of their smart phone iPhone S6 Gold? Q4. What are the strategies that Apple has taken to overcome the situation? 1.4 Justification of the Project The researcher with the help of an extensive literature review will frame this proposal and then the required data will be collected from the customers of the Apple as well as from the employees of the company too to analyse the research topic. This research will help to develop the idea about the factors that are affecting the various companies marketing policies for their new products to launch. There are some other advantages too that will help various people who wants to know about the influence of the affecting factors of marketing of a product. It will also help the researcher to know about the situations that the company like Apple can face for implementing wrong marketing policies. 1.5 Expected Research Output/Outcome The expected outcome of the study is to provide an evaluating concept about the impact of the external and internal factors on the marketing of the new products. The marketing of products are affected by various external and internal factors that influence the organisations total sale. Therefore, the research will focus on the factors that are affecting the Apples product iPhone S6 Gold and for that, the company has faced the issues related to the pricing and market segmentation. Therefore, the research will help the researcher as well as the companies to understand the factors that affect their marketing procedures while marketing their products after launching and if the companies implement wrong marketing policy then the product will be affected badly. Section II 2.1 Conceptual Framework and Research Hypothesis The conceptual framework is the process of helping the researcher to identify the appropriate theories and models to evaluate the problem of the research topic and then to analyse the procedure in which the whole research will be precede (Kuester, Homburg Hess, 2012). Figure 1: Conceptual Framework (Source: Created by author) Hypothesis H0. The external and internal factors impacts on the marketing of a product H1. The external and internal factors does not impacts on the marketing of a product 2.2 Methodology Research methodology involves the discussion of the selected methods by the researcher in order to conduct the research. In the time of selecting the different methods and techniques, the researcher needs to concentrate on the research topic (Cheung, Sia Kuan, 2012). The following research methodology will be undertaken to conduct the analysis of the topic to reach the research aim and objectives. The processes are Literature Review In this part, the researcher will discuss the chapter in details manner. In order to run the business successfully for a long time the companies needs to create a positive marketing process in the market. With the help of various models and theories, the researcher will discuss regarding the impact various factors that affect marketing process of a product of the company. In this chapter, the researcher will also discuss regarding the relationship between the factors and marketing of a product of the company. The researcher will follow this step to start the research work to analyse the related theories and models to understand the proper need of this research. This will help the researcher to examine the factors that are affecting the product of the selected organisation (Racherla, Mandviwalla Connolly, 2012). The literature review will be conducted from the help of the various sites like Google Scholar and different journals that has published the issues regarding the topic. After analysing the step the researcher will be, enable to complete this research. In the time of conducting the research, the researcher faces several issues that work as gap in developing this chapter. It is very difficult for the researcher to select appropriate theories and models as per the research model. These theories and models may not be applicable in all the business situations (Racherla, Mandviwalla Connolly, 2012). Apart from that, the researcher cannot assure that the data collected from the different sources are fully authenticated. These gaps reduce the credibility sand reliability of the research topic. Surveys, Data Collection Procedure and Sample Size In this part, the will tell about the details research techniques that he will use to collect the data and information from the different sources. Research outline includes research philosophy, approach, data sources, data collection process and analysis of the collected data. For this research, the researcher will select post positivism as the research philosophy as it helps in proper analysis of the data. The researcher selects deductive approach as research approach because this approach will help the researcher to collect the data from various sources and meet the research objectives (De, Ribeiro Cortimiglia, 2014). Descriptive research design will help the researcher to analyse the topic and provide details information regarding the topic. Both quantitative and qualitative data are considered to increase the credibility of the research. Data Collection Method Numerous information has collected from series of data and surveys will be scrutinized to give an idea about marketing factors and its effect on the marketing of a particular product. The information that will help the researcher to conduct the project properly will be collected in quantitative and qualitative manner through surveys. The Quantitative data are numeric in nature. The researcher collects these data from the 35 customers of Apple. The Qualitative data are analytical in nature. The researcher considered five managers of Apple to collect qualitative data. The quantitative data will be collected from the 35 customers of the Apple iPhone S6 Gold and the qualitative data will be collected from four Managers of the organisation. This information will help the researcher to examine the proper condition of the company to conclude it properly. Here the researcher used probability sampling and non-probability sampling to collect the data from the various sources. For the customers of Apple, the researcher used probability sampling. Here, all the customers of the company are get equal opportunity to be selected as the sample. In case of managers, the researcher used non- probability sampling. Data Analysis Methods The researcher will include the research techniques such as positivism philosophy and primary data collection process for the research. The deductive approach has selected as the research approach and the design has chosen as the descriptive research design as the research methodology. The selection of deductive approach will help the researcher to conduct the research methodology with the help of the existed theories and models, which will help to develop the research project in this chapter (Laitinen, Laitinen Saukkonen, 2016). The descriptive research designs the researcher to conduct the research method very easily that the researcher will meet the objectives easily. In collecting the data from the company, the researcher needs an authorisation letter to meet with the managers of Apple. The researcher is not able to ensure regarding the collected data because these data may be influenced by several factors. In the time of conducting the research, the researcher needs to ensure that no respondents are influenced or forced to provide their answer. The researcher gets approval from the managers of Apple iPhone S6 Gold and starts the project (El, 2012). The researcher also needs to ensure that, the data will not use for any commercial purpose and strictly use for the academic purposes only. After collecting the data from different sources, the researcher needs to analyse and evaluate it properly. This will also help the researcher to conduct the conclusion part of the research. Appropriate data analysis will help in meeting the research objectives. Research conclusion and recommendation are also depends on the data analysis. The whole research and surveys will be presented through different related graphs and charts to elaborate the research topic and proper analysis. Section III 3.1 Organisation of the Study The organisational structure that the whole research project will follow is Chapter One This chapter will be focussing on introducing the research topic of the project and will depict the full plan of conducting the Research Proposal to pre plan the future research. Chapter Two The chapter will explore the issue of the product of Apples iPhone S6 Gold that has faced some issues regarding its marketing. Chapter Three This chapter will depict the methodology of the research in which way the research will be conducted. The chapter consists of literature review, data series and surveys or data collection procedure and the data analysis procedure. The data analysis part is most important in the research as the result of research is depending on this evaluation. Chapter Four This section holds the analysis of the research, which the researcher will do in this section. This section is consists of findings and analysis of the recommended research topic. Chapter Five This chapter will summarize the total findings and analysis of the research project to discuss the problem of Apple iPhone S6 Gold regarding the factors that has affected the marketing process of the product. 3.2 Gantt chart In this part, the researcher will set the total time duration for conducting the research project and then will divide the tenure of the full-expected research time in the following chart. Activities Initial Date Finishing Date Tenure (Days) Proposal of the Project 18/06/2016 01/07/2016 14 Literature Review 02/07/2016 16/09/2016 76 Collection of Data 17/09/2016 17/10/2016 60 Analysis of the Data 18/10/2016 18/11/2016 30 Submission of Final Report 19/11/2016 02/12/2016 31 3.3 Project Budget and Budget Justification The researcher will be needed an amount of money to conduct the whole research project. Therefore, the researcher has decided to set an approximate budget for the whole project and then complete it within the expected time shown in the Gantt chart. Therefore, the total money is divided into small pieces to use in every different section of this research purpose. The budget division that is specified by the researcher is follows The part where the researcher will do the Literature Review, the section will be needed to do the interviews and surveys to acquire knowledge about the research topic. The process will be dependent on the different sources such as customers of the organisation and employee of Apple and company websites, various online resources etc which are all require a particular amount of money. The researcher has allocated around $3000 for conducting this part. The researcher has to set the budget for the data collection procedure too. In this research the researcher will conduct surveys and questionnaires which will be printed or posted by mailing system. The researcher will also do the survey through online procedure which requires a particular charge for that. Apart from this, the researcher has to meet the customers of the Apple iPhone S6 Gold as well as some employees of the company to gather the data from them about the affecting factors in marketing this product. Therefore, the budget for the travelling and other requirements is around $2500. Apart from this, the researcher has set a budget for accessing various government data, charts, tables. Websites etc. Therefore, for the data analysis part the researcher has allocated an amount of approx $1000. Tasks Approximate Expenses For Literature Review $3000 For conducting the Data Collection Procedure $2500 For the purpose of Data Analysis $1000 Overall Budget Estimated $6500 Table 2: Expected Budget (Source: Created by author) References Alexander, M. (2016). Apple Watch Campaign April 22, 2016 Megan Alexander, Sammi Cowger, Brett Haskell, Kylie Leonard, and Abbey Venable. 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