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1-2 Blog: Final Project Review

Apple Inc.

Company Selected

For my final project for my marketing research course, I have decided to use the company Apple Inc., founded in 1976 (Skemp, 2020). Apple is one of the top digital companies, right next to their biggest competitor Android. Apple started out as a computer company but has turned into so much more. They now make laptops, phones, iPods, watches, and more. This is a company that I myself use and know the most about, so I thought it a great fit for this project. It is a company that I trust and love to watch grow.
Something that amazes me about the company is that it was created by high school dropouts in one of the creators, Steve Jobs, basements (Johnson et al., 2012). It is amazing to see how a company started so small but became one of the largest companies in the world.

Proposed New Product


Apple is a high-tech company; naturally, any new products they make would follow that train. An aspect of technology that they have not dabbled into yet is smart home security. The smart home security market is a booming market; in fact, "in 2020 the global smart home security market reached 2.49 billion U.S. dollars in revenue. Over the next few years, the global smart home security market is forecast to grow further to more than 5 billion U.S. dollars in 2025" (Holst, 2020). With smart home security being such a growing and profitable market, it only makes sense that Apple jumps into that market to expand its brand. The home security system could pair with the user's other Apple products - phone, watch, tablet, or computer - to give them updates and the ability to arm or disarm as well.



The first thing I would need to do for marketing research would be to determine the target demographic. I would need to know the age group, gender, etc. of the people that this product would target before doing deeper research. After this, the primary research will begin. The company could then issue out surveys to fish for consumer interest in the product as well as feedback on what consumers would expect from the survey. Small survey groups made up of people from the demographic could be created to get specific feedback, thoughts, and questions from the target demographic. Secondary research would be finding out the success and profits made by companies already in the smart home security market.







References
Holst, A. (2021, April 12). Global smart home security market Size 2020. Statista. https://www.statista.com/statistics/1056057/worldwide-smart-home-security-market-value/. 

Johnson, K., Li, Y., Phan, H., Singer, J., & Trinh, H. (2012, January 1). The Innovative Success that is Apple, Inc. https://mds.marshall.edu/cgi/viewcontent.cgi?referer=https://scholar.google.com/&httpsredir=1&article=1420&context=etd. 

Skemp, K. M. (2020). Apple Inc. Salem Press Encyclopedia.



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