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:
Enhance product loyalty (p. 204)
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. Castelluccio (2015) stated, “If the measure is just money, not real estate or employees, then Apple is the largest corporation in the world. The company’s profits last quarter were a world-record $18 billion. Apple has achieved its current place by becoming a mobile computing company while the other shrinking giants are only tentatively shifting into the post-PC era” (para. 1). Apple stays ahead of its competitors through advanced technology and an understanding what customers want. Earlier this year the company released its much anticipated Apple Watch, which is a smart phone for the wrist.
Interestingly, Apple does not conduct a large amount of market research. Jobs (as cited by Heisler, 2012) explained,
We do no market research. We don’t hire consultants. The only consultants I’ve ever hired in my 10 years is one firm to analyze Gateway’s retail strategy so I would not make some of the same mistakes they made [when launching Apple 's retail stores]. But we never hire consultants, per se. We ju...
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...ne support is top notch,” (Inquisitr, 2015, para. 4). Apple utilizes traditional mainstream marketing communications such as television and print advertising. Remarkably the company does not actively use social media platforms as many of their competitors market. The simplicity of its marketing communications has not impeded its success.
Apple Inc. has established itself as one of the top global brands in the area of electronics, mobile devices and technology. The company’s advanced technology and top notch customer service has helped to differentiate it from its competitors. Interestingly, the company does little market research and strays away from marketing via social media platforms. Nevertheless, its simplicity has not hampered the company’s sales as it continues to earn billions of dollars in profits and out ranks its top global competitors.
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