Apple Business Strategy Essay Sample
Apple Inc. is a world-renowned company in consumer electronics and computer items with their innovation and technology. It would be interesting to study the business strategy of Apple because of their high revenue-generating products and services with ever-increasing demands. Here, we will discuss the key elements of the Apple business strategy and what Apple does to strengthen its 4 principles of marketing.
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Apple Business Strategy and Planning
Apple’s business strategy can be classified into the differentiation of its products. The multinational company has differentiated its products and services from others in the competitive market on the basis of their simple yet attractive design and advanced functionality.
This Apple business strategy case study consists of four elements listed below:
- Focus on design and functionality of products: Apple has employed advanced features and capabilities to its products and services to get a competitive advantage. According to Apple business strategy and planning, the list of innovation is not only limited to their introduction of the iPad, which is considered the successful device that can store thousands of songs, development of Macintosh which is the first computer of its kind that uses a graphical user interface and the launch of iMac which created in the shades of Bondi blue which gives an aesthetic appeal to it.
Their first move in the market becomes another element of Apple’s competitive advantage. However, competitive advantage for Apple might be challenging for the long-term sustainability of the services and products. Thus, management may be at the risk of failure in terms of ensuring the addition of innovative features to its new version of products and services which in turn compromising in the competitive advantage.
- Customer experience: Apple has the main focus on improving and enhancing the customer experience. As for any Apple customer, it is not new to crate videos after the purchase of new Apple products because of the high-quality experience they get. This happens because the company emphasizes the best customer experience and succeeded in creating the better performance of their devices. The experience of the customers after buying Apple products has gone beyond the purchasing process of the products.
Say for example, any apple product is easy to use and accessible. Customers just unboxed the products; plug them to charge and start using them. This fast and easy process after buying Apple products does make a lot of difference in increasing customer experience. Apple distributes their products in about 25 countries with their more than 500 stores around the world. The efficient and fast customer service of Apple also contributes to attaining a better customer experience.
- Apple ecosystem: To strengthen the ecosystem of the company, Apple’s business strategy can also include vertical integration in a way that the company has advanced expertise in software, hardware, and services. Apple vertical integration is one of the reasons why Apple has been great in competitive advantage from their competition. The company gets huge benefits in the competitive world due to vertical integration. Thus, the competitive advantage of Apple also relates to its ecosystem having a strategy of such integration.
For example, Apple iPhones and other devices and software can be sync easily and work great with each other without any issue. Apps of Apple can be accessible and works on multiple devices at the same time without any difference in the user interfaces. However, some products do not pair with other company devices which creates a close ecosystem of the company.
The ecosystem of Apple created switching costs for its customers in high competition. Also, the Apple ecosystem provides the opportunities to handle relationships with existing customers when offering products and services.
- Reducing iPhone dependency on the sales of the company: Apple also included a business strategy to change their sales dependency on the iPhones by prioritizing their other business services and products. Some high-profile changes have been done in iPhone marketing strategy within the timeframe of about 3 months indicates that the company focuses on services and other business divisions in ways to decrease their business sales dependency on the iPhones.
It also to be noted that such efforts are showing positive results in generating and breaking records of high revenue up to an increase of 16% compared to the previous year.
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Apple Marketing Strategy Analysis by Marketing Mix of the company
Marketing helps a company to create awareness of the products and services with the help of an effective marketing strategy. The marketing strategy also creates the need for the products and development in the market so as to expand the products in the market. In the Apple marketing strategy analysis, we will talk about 4Ps of marketing also called marketing mix. Since Apple has positioned itself on the top in the high-tech product’s market of innovators. So, in discussing the apple marketing strategy 4ps, we are going to analyze the approach for apple marketing mix.
A product is an item or service that can be sold by the company in order to fill the gap in the market and to grow as a business. Apple fills the market gap by responding to its growing tech-savvy society through providing high-tech products including personal computers, servers, laptops, iMac, iPhone, iPod, Wi-Fi-based stations, Software development services, iTunes, and lots more.
People include the target market of the business when it comes to targeting specific groups, regions,s, and places. It is important to evaluate and identify their potential customers or potential target audience in order to address the specific needs of the customers effectively. The target market of Apple includes all the individuals and businesses who have great demand for innovative yet user-friendly services of computer and consumer electronic products. The current apple marketing strategy 2021 is more on the focus of better customer experience. Thus, Apple has implemented its strategy on those people who are willing to pay and adopt an exquisite technological lifestyle.
The target market of Apple includes businesses and individuals who demand a highly innovative yet user-friendly experience of computer and consumer electronic products. Apple targets those people who are willing to adopt an elegant technological lifestyle.
Apple’s pricing strategy is one of the most differentiable factors in marketing which differs from its competitors. Price is one of the most important principles of marketing which relates to cost adjustment in the market in order to provide reasonable prices to cater to the relationships between customers and business. Therefore, Apple is very well known for its premium brands and products which charge high prices to only target upper and middle-income groups of people. Maintaining the iPhone Legacy, Apple is not only selling their products but also creating a technological lifestyle for their customers.
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Apple has been participating in their promotional aspect of the marketing quite actively. However, the two main primary promotional methods Apple has included in their business were advertising and personal selling. Promotions can help in personal selling, direct marketing, sales promotions, advertising, and publicity. Thus, to make more potential customers, Apple has been achieving the objectives of promotions i.e. to create awareness of the products in the market, to increase the demand of the products, and to consider differentiating factors of the products in the competitive market.
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