The service has been among the top performers in the provision of payment and financial services and aims at increasing the provision of their services by seeking to achieve its goal of being the largest service provider institution. Its customers include all people from all walks of life who require our different services (Murray, Davis, Dunn, Hewson & McNamee, 2014).
Apple Pay Services is a provision that has put up plans to involve the media in its advertising mission. The platforms being focused on include social media platforms such as online advertisement and also through television. These media platforms would be appropriate as the target market is the young generation aged between 21years to 35 years.
The timing of the adverts representation that has been planned by Apple Pay is whole year round as this will capture the attention of many targeted potential customers at different times.
The campaign strategy is aimed at involving the youth more in the financial management sector. This campaign will be a success because the youth forms a larger part of the economy and online advertisement incorporation will improve the situation by increasing the market base.
The recipients of the service are the youth of the country because this group forms the largest part of the economy. The population aged 21 to 35 years is the most robust and is active in the country however only a small percentage has been integrated into formal employment while the other part has formed informal employment (Lobo, Watters & Wu, 2010). Due to this situation many of the youth have found themselves living poorly and in most cases cannot easily sustain them or meet their daily needs comfortably. Those fortunate enough to be comfortable use their resources in upgrading their social status by living lavishly or their cultural beliefs expect them to cater to the needs of the rest of the family once they have become economically stable. In this case lifestyle, social and cultural factors play a role in seeing that the youth do not put aside some cash for saving.
The youth have attitudes towards seeking cashless payment services hence do not put emphasis on credit or debit cards. Faithful to this is when youths who do not have jobs not asking for loans to start their small businesses or to save for the future. Others come from societies that do not support amassing of any wealth whatsoever being as a result of religious beliefs, therefore, reducing the number of youths who may be involved in banking (Sansdheera, Warren & Leitch,2011). Also, the general use of the products being offered by banks especially the saving product is not fully utilized. The youth do not believe in saving because of the current notion that only the financial stable people should keep because they have enough to save and meet their daily needs. As a result of the corrupted values, negative attitude and lack of full utilization of the existing product leads to reduced levels of seeking cashless payment products.
The population of the youth in Australia is rated very high as they are the form the largest group of people in the country. The male youth comprises of around 51% while the females being approximately 49%. The Apple Pay Service involves crediting and debiting by anyone that has reached the age of being an adult but on the other hand, does not target the older generation (Pomering, 2017). Income of the targeted group should be at least $500 to be in a position to meet their daily needs and have a little to save. To use these products, a little education may be necessary to ease communication between the service provider and the client. The target population includes students and the working youth who are either in the upper middle class or the lower class that have the ability to save or borrow funds from the bank. Single and married youths are eligible for the products despite their geographical location and setting.
Psychographic characteristics of the target group include culture which mainly includes all the youths both in Australia and other parts of the world. Aging gracefully and becoming financially stable is becoming an important topic in the country. With the lack of formal employment and the increasing ease usage of income, the payment services have emerged as a solution (Moriarty et al., 2014).The increase in the dynamism of the world has resulted in an increase in the youth wanting things being done fast and efficiently; therefore, having to introduce the Apple Pay Service will reduce the amount of time taken to seek services in the bank by accessing them through their phones. Attitudes towards the products show that they are outcome oriented, efficient, time conscious and the beliefs held is that the youth want things done quickly at their convenience, therefore increasing their lifestyles quickly and efficiently.
Identification of Apple Pay Service will highly involve the market factors required to establish it fully. For instance, a high capital involvement will be needed so as to put up advertisements in media vehicles to see the product become popular. Also, an intensive labor force will be required to make the mission success by working effortlessly. Apple Pay Service will be offering more credit and debit services. There are different payments modes provided by the company for saving purposes which also require high capital and labor involvement (Taylor & Magee, 2015).
The current competition circumstance experienced in the industry is very steep therefore the capital needed to advertise to ensure the top position in the sector is very high. Likewise, the labor force needs to be intensified so that the said product can reach the intended market quickly and efficiently. Thus will ensure that the youths are engaged fully, and the rate of luring them into buying the products is increased (Walsh, White, Cox & Youth, 2011). The advertising brief is aimed at reaching approximately 500,000 youths both male and female and so as to hit this target the frequency of publicity should be very high. For instance, advertisements should be done through televisions and social media platforms such as Facebook and Twitter once per hour. This level of frequency will capture the attention of quite some youths who are always glued to their TV sets and on their phones hence may increase interest in the product being offered.
Magazines and Radios form part of Apple Pay Service alternative media vehicles. Advertising made through publications are great benefits to the bank because unlike much other print media like the newspaper; it displays images that are of high quality. Images that are of a more top quality that is characterized by full color and annotation bring out the realness of the product that is described as a perfect representation of the product which is advantageous to the firm. A large number of people from different demographics get to read magazines quite often. Therefore, the platform is sufficient and reliable (Chong, 2015). Magazines are found in all the corners of the world thus any advertisement made through the magazine has no other way than reach the intended target. Magazines, therefore, are an advantageous platform to be used for advertisements.
Placing an ad on the radio has its share of advantages too. First, when advertising through the radio, the local people get the company’s attention. Using radio as a media vehicle also ensures that a large number of the population gets the advertisement as it has a high local coverage. Advertising by radio is a good idea because it is not expensive hence is cheaper compared to other media vehicles. Many people in the country listen to the radio in the morning and others when carrying out household chores (Haeckel, 2013). Therefore, they have built some trust in radio to keep them engaged at this times of the day hence when an advertisement is placed on the radio these people get to hear about the product being offered. For local and small businesses the easiest way to get national attention regarding their products is through radio advertisement.
During the announcement, Apple will need to use words that can easily attract the attention of the youth this should be mainly based on wise sayings that are quite familiar to them. Pictures to be used need to be of their fellow youths both saving and then in the next scene show the same individual at an older age getting the amount collected in a lump sum and taking it home (Ali, McRae, & Ramsay, 2012). The sound and music to be employed in this particular advertisement should be from a prominent music artist whose music is being listened to all over the world. The consistent color that should be used in the publication should be bright. For instance, red color quite a bright color which tends to catch the attention of many people leaves alone the youth but also the older people.
The advertising should be electronic because almost all the youths have gadgets that can help them get information quickly. Also, an electronic advertisement will ensure that almost the whole of the targeted population is caught by the ad and considering the used actions, color and music they can be lured into engaging with the bank. Electronic form though a bit expensive than the physical form is a more efficient and sustainable way (Higgins & Walker, 2012). Apple is a universal payment service as it has branches in many other countries in the world apart from Australia. For this reason, the advertisement creativity needs to aim at both national and international levels. For instance, using music and sound from a well-known artist in the globe will capture the attention of all the youth in the nation and also globally.
Apple Pay Service will be among the main services that are easily needed and form a relevance to all the communities. Due to the dynamism that being experienced in the world today, people are resulting to new and easier ways of payment of services in different service and product outlets. It is important to note therefore, that all the communities find an appeal in Apple Pay Service. (Index, 2011). Advertising Apple Pay Services is relevant to specific communities especially those that are believe in the new way of doing things. People in today’s world, mainly those in the urban areas are looking for easier and efficient ways of accessing services therefore the introduction of Apple Pay Service offers a solution to these communities. Also Apple Pay Services allows clients to save on their cash because they do not carry cash in their pockets hence reduces the possibility of impulse purchases. Hence the service forms a relevance to the group of people who buy goods and services out of their budget.
Apple Pay Service will have an association with mainly the social media for instance, Facebook and twitter. This media vehicle is highly used by many advertisers because it attracts quite a large following of the population especially the youth. The association that is realized between the media vehicle and the Apple Pay Service is that the two forms a great interest in the lives of the target group. The youth are mainly searching for information from Facebook and twitter, due to fast evolvement of the functioning of the world, thus the new ways of doing things is introduced. Both Apple Pay Service and the online social network media vehicle are among the newly introduced functions and have been highly embraced and appreciated by people all over the globe. Due to this feature, the two are being used to make life easier especially by the youth thus a striking association can be noted.
Apple Pay Service has put an effort in offering its consumers with up to standard payment services. The consumers of this service enjoy an increased and efficient way of managing and using their monies through the use of this service hence legally and ethically the consumer protection laws have been put into consideration. Secondly, the Copyright Legislation Ethical Principles have been followed by Apple in the provision of a payment service. The service is a new and original product that has been created by the company in order to satisfy the arising needs of consumers in Australia. It important to note that Apple Pay Services allows customers to recharge their credit cards from the comfort of their homes or offices and thereafter use these cards to pay for services and goods (Johnston, 2010).
Fair Trading Laws have been followed by Apple Pay Services as all the information relating to the use of the product has been made public. The company sorts to be in the industry by following all the legal and ethical practices of the land therefore has come up with a strategy of providing true information regarding their services to the public (Humphrey, 2013). The company is bound by Privacy laws of the land whereby information about the workers, their employees and the company is kept secret so that there is little judgment about service being offered. Lastly, Competition and Consumer Act 2010 has been put into consideration by Apple through provision of correct information and data about the service.
Based on the research and the survey data provided, online advertisement such as, Facebook and twitter appear to be the most effective. This is proved by the results of the bar graph and the pie chart. T.V advertisement is the second most effective media vehicle as shown by the data in the survey.
The advantages of using television as a press vehicle are that it will reach out to a diverse and large number of people hence the advertisement will reach quite a broad audience. Also, use free to air of TV will bring out the advertisement clearly and colorfully as it digitized hence captures the attention of many people (Luftman & Zadeh, 2011). The disadvantage of using free to air TV is that it is quite expensive. The advantage of using Radio is that it is quite cheap and that it can be used to advertise for longer periods. The disadvantage is that only local people listen to the radio hence cannot be useful for international audience.
The advantage of magazine is that it can bring out the advertisement as it is through the presentation of colored pictures and images for the public. The disadvantage of the use of publication is that the people outside the section of magazine distribution cannot access the advertisement information (Andrew, Drennan, & Russell-Bennet, 2012). Online advertising is advantageous because it highly expanded and that many people are using social media platforms which include Facebook and Twitter in their daily activities hence the advertisement will be seen widely. The disadvantage of using this media vehicle is that it can be quite expensive.
The outlined budget reflects a six-month campaign (Shampine, 2012).
Budget allocation Percentage of Income Spent
Item Amount 1,400,000 28%
Budget $5,000,000.00
Summary
Total Budget Allocation Total Project Expenses Balance
$5,000,000 $1,400,000 $3,600,000
Expenses
Item Amount
Online platforms (Facebook and twitter) $800,000.00
Channel 7 $600,000.00
Online platforms Facebook and Twitter in six months $ 800,000 has been spent. The desired range is approximately 3.5 million youths in six months, and the frequency of use of this advertising vehicle adds up to nearly five times in a span of six months.
For instance 3,500,000/ 800,000 is equal to 4.375 times in six months
Free to air TV broadcast in six months has spent up to $600,000. The anticipated reach is about 1.5 million youths in half a year. Therefore the frequency of usage is about three times in six months (Kolyshkina, Levin & Goldsworthy, 2013).
Hence: 1,500,000/600000 is equal to 2.5 times in half a year.
Therefore the total anticipated reach population is about 5,000,000 youths, and a total of 1,400,000 dollars have been used for the six months with a target frequency of about eight times in six months in both media vehicles.
The media plan should be aimed to advertise the product for the whole year especially at nights and in the mornings on TV when people have gathered in their family homes.
The alternative media that can be used in case one of the selected does not yield anticipated results should be Radio which is a bit cheaper than online platforms and free to air TV which may be run for the whole year and several times in a month (Thompson & Jain, 2010).
This plan should be used with the alternative media program which radio in a period of one year (Buckley & Stanley, 2016). The response by the targeted consumer group should be observed and results compared with those of the selected media vehicles.
References
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