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The role of innovation in business
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Recommended: The role of innovation in business
Innovation is the main strength of this the company’s success. It has created rare products, which have been in front of the curve such as the iPhone, which have transported touch screen engineering to the normal. Other touch screen devices were on hand at the time, but these devices did not look as appealing and did not have the best system. Other products like the iPad were created by Apple, which also brought the market forward, in terms of design and in competition. This company’s’ tradition towards a specific vision of research and growth into new-product concepts and thinking outside the box has created great sub culture within the company. “One of the things that Apple has been able to do with the successes of their product range is to collect a lot of money in cash. The company has over $100bn in liquid cash available on the balance sheet. The money has been criticized by its corporate investors for not investing it in companies or to return the money via dividends. Apple has started to take this information on board only after the death of Steve Jobs and has purchased companies, issued dividends and underwent share buy backs. This had inflated the share price more and also allowed Apple to use acquired company's technologies in their product range such as the Touch ID on the latest iPhone 5S.” Trademark loyalty is one of the best things that the company has been going for it. This has created a type of loyalty with consumers for Apple to keep and grow over time while their competitions, such as Android based smartphones, have found it hard to take some of this market back. The brand and the logo itself of the company are known around the world by most people and would be able to name at least one product made by Apple. Cu... ... middle of paper ... ... the Apple TV set-top box.” Apple competitions are their biggest threats. Like Samsung, Nokia and Sony are making it harder for Apple to keep its buyers, mainly because the different features there have to offer as well as available for a cheap price relative to the cheapest Apple product. Furthermore, the fast development in technology is a threat to Apple as well as strength. If the industry moves faster than the company, you can lag behind. This is may not be the case for Apple, but can change in the way which products are used in the future. Also just as we mentioned earlier, apple can be its own worst enemy where situations like the apple maps disaster... combined with apple filing so many patent lawsuits that some loyal customers are starting to ask… Is the grass greener on the other side? I tell them... No... That is just the android logo you are looking at.
Apple is a king in the technology world; poisoning every area of the industry that they have introduced a product too. They are slowly weeding their competition out. The only a company thrives in the thorn bush market is if they are in cahoots with apple. Apples co-founder Steve Jobs, started the company with all intention of dominating the market. The only obstacle for them is the Anti-trust law created ages ago. Apple, in their attempt to take the market over, has been racking up evidence against themselves. There reach has leaped boarders and even caught the attention of the European Union. Apple is pushing their boundaries and in the future will eventually cross the line in to monopolistic actions.
is a fierce competitor in many industries, they should not lose sight of some of their biggest competition; including Google, Samsung, Lenovo, Sony and many more. As these companies explore the advancement of the same technology that Apple is now using, Apple will need to continuously expand their own innovative capabilities in each of the industry they currently dominate.
According to WirelessWeek’s (2014), the Apple brand might possibly be dropping in popularity and losing its lack and luster. A new research was conducted by a firm and it was determined that Apple was one of the most vulnerable brands due to its poor performance and was no longer appealing to the younger demographics. Its competitor Samsung it currently the most popular brand but it seems only in continental Europe according to the WirelessWeek.
Within the last decade Apple has become one of the largest growing companies in the world and the largest valued company in the United States. According to a recent article in The Guardian, a global financial news website, “Apple set a record by becoming the first company to be valued at over $700bn (£446bn).” (Fletcher, N. 2014) This comes as no surprise to the average computer aficionado and shareholder as Apple has been making a name for itself since its inception. From its earliest Macintosh models to today’s iPhones, Apple has been a trailblazer for software, technology and revolutionizing the way we communicate on a Macro level. Their dedication to innovation, quality and service has made them
Apple’s brand is worth $145.3 billion dollars (Badenhousen, 2015). The company was the top brand on Forbes’ list of the World’s Most Valuable Brands for a fifth straight time in 2015. Apple is worth two times as much as any other company on the entire planet, but spends only a little over a billion dollars a year on advertising which is a third of what some other electronics companies spend (Badenhousen, 2015). The company relies on its loyal following of fans to promote its products. In the past 15 years, Apple has revolutionized four electronic industries, iPhone, iPad, iPod, and iTunes (Badenhousen, 2015).
In 1976 college dropouts Steve Jobs, Steve Wozniak, assisted by Ron Wayne embarked on a path to start a tech company that would create new innovative products by connecting people all over the world. This company came to be known as Apple Computers which has become a global leader in Technology and cultural innovation. The rise of Apple computers did not come easy and along with the major success obtained their failures have not gone without notice. Yet, through the joy of success and the agony of defeat, Apple has continued to reinvent its brand over four decades.
Apple brand audit In fact, about this business one can easily write a few weighty books. Without exaggeration, we can say that Apple is one of the brightest technology companies that appeared in the 70s of the last century. Due to innovative technology and aesthetic design, Apple Inc. has established a unique reputation comparable to the cult in the consumer electronics industry. In 2014 the company was ranked first in the world by market capitalization.
Overall, Apple has a creative way of marketing to the millions of people over the world. Their creative marketing coupled with their unique product meshes together to form a multi-billion dollar company. If Apple keeps using their exclusive style of marketing to a younger “hip” generation then they will be Apple customers for life.
Apple’s SWOT analysis includes strengths that adhere to its great success; such strength is Apple’s marketing and advertising campaigns. Apple incorporates its products to portray a sleek, new, cool, the latest, and must-have technology image to its consumers. Our customer loyalty allows us to continue growing as a corporation and increases our already well-established brand awareness and reputation. Our strong financial performance is an outcome of our internal strengths highlighted. Apple’s weaknesses include, but are not limited to our patent infringements, defects that occur in our products, our declining market share, as well as our incompatibility with other os devices. Realizing our weaknesses allows us to develop goals that will correct these areas we currently need work on. The opportunities of our external environment; such as the ...
is yet to reach its maximum potential. Truly a unique entity in its accomplishments and organization, apple through the conviction and leadership of Steve Jobs its founder and then CEO; have pioneered the revolution of mobile technology. When it comes to strength, apple Inc, has a great marketing team with great marketing and advertisement capabilities, strong brand awareness, a strong and extensive distribution channel, and most of all a vertical integration and the most obvious which is customer loyalty. With the acquisition of valuable companies such as Beats, WhatsApp, mobile payment systems with the IPhone 6, wearable gadgets like the IWatch, apple uses these opportunities to satisfy its loyal
Computers and technology makes it easier for entrepreneurs to enter this market. Not only are major tech companies competing against one another, but they are also competing against little programmers that know how to code. In our time you will never know with certainty when a small group of engineers or computer scientists are going to create, “next big thing”. Apple has been able to have a competitive advantage over its competitor by creating the highest quality products and services. Some of Apple’s current competitors are Microsoft, Google, and Facebook, and a few other tech companies as well. Most people strongly people Apple is one of the stronger company its industry, but then again some other people have biased views. Financially, they are the strongest company in the world. Also people are always willing to pay a premium for their products because of their durability, quality, and prior experiences with Apple products. Apple is always on the look at for new innovative ideas and concept that are being produced by self-motivated entrepreneurs. They are always looking to hire bright minds and let them develop within the company. A lot of entrepreneurs, programmers and engineers do not have a problem working for Apple because of their well-established perks. Apple offers its employees of the best benefits in the world. They also fairly compensate their employees that work in the front-end store as
The major competitors of Apple are Dell and Samsung out of which Samsung is the
There are many role models in the world. They may be individuals or an oranization but their success is inspiring for others and we try to find out the reasons for such a brilliant succes. This is the case with Apple as well tat has enjoyed this status since 1981.
The Apple brand name is a household name, the brand value of Apple, Inc. improved to $13,724 million in 2008 from $11,037 million in 2007 (Datamonitor PLC, 2009). Apple is different from its competitors because it produces high quality products, its products are also unique and attractive and this has helped to increase its market shares. Since Apple is known globally, 54% profits come from foreign markets (Datamonitor PLC, 2009). Apple products are easy to use and carry around, majority of its products are light, small and very easy to carry around and it has a major advantage of product diversity, there is something for every one of all ages.
Apple’s brand name enhances brand recall and is memorable because of its simplicity and it has a higher transferability than other brands because it’s name is not a made up word that would be hard to translate into other languages. Apple.com has good memorability because the website shares the brand name and comes up right away when you search. Likability is also strong the website has a modern appearance and is easy to navigate. The Apple logo is also a major point in the brand because of its memorability, as soon as you see the apple you know what brand of product it is. The logo has been redesigned over the years from the multicolor apple to the solid colored one that is used today. Even though the