Week 3 - Strategic Management and Strategic Competitiveness Assignment Apple Inc. is a technology company that is known for its consumer electronics products such as iPhones, iPads, and Mac computers. Apple is one of the world's most valuable companies and is known for its innovative consumer electronics, software, and digital services. Globalization Globalization and technological changes have impacted Apple in various ways. For instance, globalization has allowed this company to establish a complex and comprehensive supply chain. Elements for Apple's products are sourced from different nations, thereby taking advantage of cost efficiencies as well as specialized manufacturing capabilities. Thus, the global chain of supply has enabled this …show more content…
The company has attained a strong market position within the technology industry, especially within the premium smartphone and smartwatch components. This dominance regarding the company has allowed it to command or calculate premium pricing and have a competitive edge in the market as well as customer loyalty. Furthermore, the company's brand is globally recognized and linked with quality, innovation, and a seamless user experience. This translates to a competitive edge permitting the firm to maintain premium pricing and fends off its rivals within the market. Apple's concentration on design and user experience makes its products apart from other rivals (Hitt et al, 1). The firm's ecosystem, which comprises hardware, software, and services, improves client retention and enhances cross-selling …show more content…
Because of this, the company heavily invests in development and research to develop products that properly resonate with customers. Therefore, these customer-centric strategies have assisted the company in staying ahead of its rivals and also maintaining a loyal client base in the technology industry (Lan, 3). The mission statement of the company also places a strong emphasis on serving educators, students, and other creative experts which has influenced the service offerings and products of this company. Therefore, the company's mission statement stresses its commitment and dedication to offering the best individualized computing experience while the vision statement also highlights its key products and other technological innovations. Altogether, these statements guide the firm's strategic direction, marketing position as well as product development. By continuously striving or aiming to fulfill its mission and focusing on major services and products, the company has attained immense success such as market leadership, strong brand recognition, and a strong base of customers (Hitt et al, 1). The clarity offered by this statement assists in aligning the company's pursuit regarding its vision, thereby leading to general achievement within the technology
Mobile devices and technology give consumers the ability to get instant vendor price comparisons with ease. Due to this technological innovation it is imperative that firms properly evaluate their pricing according to their product offering. Specifically, Millennials are motivated to negotiate, cross check pricing, and utilize price as a method for determining quality. Companies should systematically choose a pricing strategy that aligns properly with their product offering. Consumers determine a perceived value about a price based on reference prices, price-quality interference, and price ending
From its groundbreaking innovations, the corporation has developed a wide range of superior consumer electronics products,
There are types of technology its consumers use on a daily basis such as cell phones. There are two leading phones that are being used which is Apple and Android. These brands are very competitive towards each other. They have almost looked very similar over the years. Both of these brands have drawn people in.
How Sustainable is Apple’s Competitive position Introduction Apple started out simply as a computer company producing Macintosh computers and software, but has since evolved over the years to manufacture other products. It introduced iPods in 2001 for music players, in 2007, it started producing iPhones. Its products are consumer oriented and this has contributed to the success of the company. Apple also views innovation as basis of survival and business development (Yoffie, 2012).
It´s important to remember that disruption is positive for the mass-market and are innovations that make products and services more accessible and affordable, thereby making them available to a much larger population. When we look at the full extent of Xiaomi´s business model, we can clearly see how different and how disruptive it is. How does Xiaomi keep their prices at least 60% lower than their competitors? While Apple need to come up with a new model to maintain their high profits, Xiaomi have found a clever way to reach these profits without overserve the market with smartphones. For Xiaomi to sell high-end smartphones at such cost, Xiaomi keeps their models
STRATEGIC MANAGEMENT – INDIVIDUAL WORK STUDENT NAME : BAIRAVE YOGANATHAN CMU ID NUMBER : 20056060 ICBT ID NUMBER : UWIC/MBA/MT/26/29 SUBJECT NAME : STRATEGIC MANAGEMENT SUBJECT CODE : 7002 STRATEGIC CHANGE MANAGEMENT TO CAPTURE BENEFITS OF DEMAND CHANGE CONTENTS Executive Summary Introduction Drivers to change o Porter’s five forces o PESTLE
Our focus is similar to Jeff Bezos’s, to innovate and take risks in order be the best for our consumers. Challenges will be faced to become the most advanced sensor technology company, and our company must face those challenges head
Apple should constantly innovating and coming up with cutting-edge products in order to maintain its position as one of the industry leaders. As Apple is adopting a differentiation strategy, it is imperative for company to leverage on its strength in R&D to generate products that will meet expectation of its customers. The most importantly is to understand the tastes and preferences of their consumers. The company should be receptive to both positive and negative feedback from its consumers and to appropriately incorporate them into winning solutions. Though it is not feasible for Apple to act on every criticism, the company should strive to improve and re-invent with each new product launch to minimize product limitations without compromising on its core values and product uniqueness.
Apple Inc. embraces diversification strategy as a means of promoting its viability in the market. Largely, the creation of the three products lines compounds the sources of the company’s income. In fact, the company does not rely on a single source of income because the product design belongs to different categories. This strategy cushions the business from suffering risks of associated with depending on a single business. According Hitt, Ireland, and Hoskisson (2014, p.135), the benefit of handling many products is that when one product fail or does poorly in the market, the business is would shift its attention of the best performing products.
Some of the reasons behind the system’s extraordinary growth over the last few years have been explained by its ability to not only adapt to a myriad of low-cost devices (which is in-line with Google’s mass distribution strategy) but to also create an iPhone-like experience on non-Apple products (idownlaodblog.com). Tomi Ahonen’s Almanac (2016) reported those prices to vary from under $40 for ultra-cheap phones to $150 - $450 for mid-priced smartphones. Apple’s introduction of its low-cost iPhone 5C, which is currently followed up with the iPhone SE with an entry price of $400 (Apple), is a sign that the tech giant is on its way to reach a broader audience in key geographies and that it is likely to steal market shares from Android in the long run (SEMIL
It would aim at establishing a strong customer lifetime value. It would also search for new markets in other
3.0 Macro Environment that Effects Apple Social-cultural, technology, economic, political and legislation is the elements of macro environment that effects Apple which are described as below: 3.1 Social-cultural ITunes is Apple’s biggest virtual media store. In general, the image of the Apple also depicts the modern individual lifestyle, combining function and conception, resulting in brand recognition and commitment. In conditions of the demographic features, Apple is targeting the two major generations. One generation is mainly consists of working adults, where they might sustain a higher and stable income to purchase Apple’s expensive and complex equipment. Thusly, the sophisticated and high-tech Apple products would definitely
The four building blocks of competitive advantage can be used to help a company become more profitable and stay ahead of their competition. The four factors are superior efficiency, quality, innovation, customer responsiveness. All four building blocks are important to any company. However, I believe that customer responsiveness is the most important because having loyal and happy customers can make or break any company. The four building blocks can help companies grow and become the leader in their industry over their rivals.
Strategic marketing is a broad and practical subject which included the concept of marketing subjects of previous semesters such as business marketing. The study of this subject has contributed to marketing knowledge in many ways, as well as it has strengthened my skills in application of marketing concepts. My knowledge was increased that I was able to develop a complete strategic marketing plan of not only on the part of marketing analysis or strategy of a product or service, but also the whole corporate plan. My skills and capabilities that were developed and integrated during lectures and tutorials include the analytical skills, coordination skills, presentation skills, organization skills, etc.
According to Bullen and Rockart (1981), critical success factor is the significant skills, areas, or actions of a company that contributes to the competitive performance that can make it become successful. The main key success factor of Apple is its core competency, technology. The company that owns the advanced technology may get high revenue and a larger market share when imply this technology in its product or service (Roth & Miller, 1992). Apple has used this core competency to develop many highly functional and usable digital device and software which can develop the loyalty of customers to its brand (Laugesen & Yuan, 2010). For example, many electronics products in the market are use Google’s Android system, while Apple uses its own system, iOS in all of its digital devices (Johnson, et al.,