Apple is hoping to expand into the baby market with the launch of their new
baby monitor, iBaby. The expectation is that the iBaby launch will contribute
an additional 10 million dollars in revenue for Apple by the end of the first
full year that the baby monitor goes live. Apple is positive that it will be
possible to reach 10 million dollars in sales because “The Global Baby Monitor
Market is expected to grow at a CAGR of 6.2% from 2021-2027 to reach US$ 1,970
million by 2027” (PR Newswire, 2021). There is a huge demand for baby products
and the market is growing very fast!
Apple is targeting middle to high-class millennial moms and dads between the
ages of 26 to 41 years old and a very popular trend for millennials is social
media. “The millennial mom doesn’t spend time clipping coupons or check the
local ads for what’s on sale. She’s on Facebook. She reads blogs. She’s glued
to her mobile devices” (Keefer, 2012). To reach Apple’s targeted demographic
Apple needs to promote heavily on social media by running sponsored ads and
creating content that will go viral. Apple has been sued for false advertising
in the past and since we are releasing a baby monitor that promises to track
your baby’s breathing and heart rate. It is very important that Apple does
everything they can to make sure the product is 100% ready to be launched.
iBaby must for through many tests before it is released, and it must be FDA
certified and doctor approved. There are certainly many limitations to the proposal
based on the amount of tests the product must pass before the launch.
Refferences
Keefer, A. (2012). Marketing to Millennial Moms. Progressive Grocer, 91(8), 121.
Baby Monitor Market to Reach US$ 1,970 Million by 2027 Globally |CAGR: 6.2%| UnivDatos Market Insights. (2021, June 2). PR Newswire https://bi-gale-com.ezproxy.snhu.edu/global/article/GALE%7CA663848026?u=nhc_main&sid=ebsco
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