Iphone 5 Scenario Essay Example | Topics and Well Written Essays - 1000 words

Iphone 5 Scenario - Essay Example 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. ... nship, 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 iPhon e 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