Branding A commonality among Fortune 500 companies is they can be recognized by their corporate brands and product brands. Branding offers companies an edge over the competition and provides advantages to both the company and the customer. Ferrell and Hartline (2014) identified the advantages of branding as: Product recognition Comparison shopping Shopping efficiency Risk reduction Product acceptance Enhanced self-image Enhance product loyalty (p. 204) Apple Inc. Apple is a well-known and globally recognized brand. Based in California, the company manufactures tablets, phones, games and software applications. The company’s Mac, iPhone, iPad, and iPod have contributed to the company’s financial success.
The innovation management efforts adopted by organizations and businesses are through new techniques and paradigms that serve existing and new markets efficiently including those with new and modified products and/or services. As part of radical innovation, the innovation management methods should consider global trends in planning for future contexts as well as products and services. The classification of drivers for innovation involves ... ... middle of paper ... ...ss is differentiating through balancing the ideas with certainty. It involves consideration of what makes the new product and/or service competitively unique and what it seeks to achieve in the lives of customers. The final process is using the innovation to enhance every aspect of the organization or business and not solely improving the product or service through taping brand equities and reinterpreting.
The book has used peer-reviewed resources to enhance the use of professional approaches to innovation and management strategies by the readers who uses the book. The authors have given different management strategies and their practical application in business fields. As the title states, a strategy in business require innovative strategies for efficient development of the firm. More importantly, the book offers modern innovative ideas that need to be integrated with management strategies to develop modern businesses. The innovative approach provides a practical guide to the management strategies easing the execution of the strategies in the respectful environment.
As apple chooses a segmentation bases by analysing and creating a profile it targets, it assesses the requir... ... middle of paper ... ...es through its advertising activities that aim to focus on psychographic variables. For example, image one (appendix 2) expresses the feeling and personality of the IPhone 5c through its variety of colours that engage consumers to purchase the product (Cox, J., 2013). In conclusion, many companies implement a customer-driven marketing strategy that aims to segment, target and position it’s market. Apple an organisation known for it’s wide innovation of electronic products uses this strategy to help gain a better understanding of its consumers it will serve. Yet, two appendix’s used to support Apple’s product the IPhone 5s and 5c, position the author in its primary target market as a university student, with the support of a tailored marketing mix.
Continue to invest prudently in Research and Development. Functional Tactics Management involvement wanted functional tactics to carry out successfully. In addition, the functional area, “marketing, finance, operations, R&D, and human resources will need to be included so that change can occur on all facets of the business’ operation” (Pearce & Robinson, 2014). The Research & Development department is ... ... middle of paper ... ...loyalty within the company. 1.
In order to gather data regarding the marketing mix strategies for Apple Inc., A survey questionnaire used to collect data due to its flexibility property of providing different kind of data both qualitative and quantitative. Data collection
Their efforts and perseverance towards renovating the common computer paid off, as they now own a multi-billion dollar corporation. Apple Inc. is still working hard to develop and design the latest breakthrough consumer technologies and electronics, and it all stems f... ... middle of paper ... .... has proved as worthy competition for other consumer-electronic producers in the economy. Its stock, at $524.94 a share, has also proved as competition in the stock market. The stock first increased greatly in December of 2007. It dropped in December of 2008, but then took a steady climb up to $667.10 a share in September of 2012.
SWOT Analysis Apple has grown remarkably into an information technology giant at a staggering pace. A careful SWOT analysis reveals what Apple has achieved and how it can continue growing and succeeding in its complex and fast-paced market. Apple benefits from excellent brand recognition and a stellar reputation. Apple’s reputation attracts new customers and its performance retains existing customers, making its brand a valuable strength. Also, Apple profits from being a vertically integrated company, which allows it to control many elements in relation to its products, like the processor, hardware and software designs, operating system, and cloud services.
With a score of 8.24, Apple has stayed ahead of other well-known industry giants such as Google, Amazon, Microsoft, McDonalds, Fed Ex, etc. (Boone & Kurtz, 23). Apple was one of the first companies that altered the way that people use technology: from buying music to interacting with each other. Its track record for innovation and fierce consumer loyalty translates into tremendous respect across business’s highest ranks. Other companies should follow in Apple’s footsteps to be a successful and admired company (Dalrymple).
Learning for both of them no longer have to be a struggle for Apple has found a way to divulge knowledge through rich visuals, interactive texts and presentations. Educator can make use of the iBooks Author app to create their