1. What is Apple Watch? Describe in terms of product attributes, functions, and
ID: 363172 • Letter: 1
Question
1. What is Apple Watch? Describe in terms of product attributes, functions, and customer benefits. 2. At the time of launch, Apple Watch is a complementary product to Apple iPhones. Who among iPhone owners would buy an Apple Watch, and for what reason(s)? Consider and describe potential market segments. 3. The adoption behavior of potential buyers of Apple Watch may be analyzed by applying the diffusion of innovation model. What % of potential buyers might fall in the categories of innovators, early adopters, early majority, late majority, and laggards? 4. Obviously some will never adopt the Apple Watch. Putting aside non-adopters (normally included in the laggards category), how long would it take to complete the adoption of Apple Watch (i.e. 100% of those who will eventually adopt) in your “guesstimation”?
Explanation / Answer
1. Apple watch is a Smartwatch which can connect to the iPhone, show notifications and run applications. It has a dual core processor , GPS and cellular chip.
it can be used to answer calls, track runs and monitor health, heart rate, pay with apple pay, get directions, connecting with the car, accessing Facebook, checking email, sharing your location.
2. At the time of initial launch the main categories of people interested in apple watch were the ones who wanted to test and try something new, the ones who are fitness freaks, the ones trying to increase their efficiency, the ones who are simply Apple brand fans.
3. Apple watch capital targets younger to medium age group bracket with higher than average income. The diffusion of innovation model requires any innovation to succeed and be self sustainable by increasing the user base and reaching a Critical Mass. Apple generates quite a bit of media Hype and has been able to shift the diffusion curve primarily towards innovators and early adopters constituting most of the overall market, the remaining minority going towards early majority, late majority and laggards.
4. The price point and value for money would be the key reason for people to go for Apple watch at mass scale. The choice of the product gets minimised to only those people who are already using Apple iPhones. The company needs to allow software integration with other Android phones as well to increase the reach of the product. It needs to offer lower price entry level smartwatches to allow people to feel and use it before upgrading to the higher end Apple iWatch and other Apple products as well. The timeline for a complete adoption of Apple watch can be somewhere between 3 to 5 years after Apple incorporates the aforementioned points.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.