Apple Incorporated: The Definition of Success
October 31, 2011
Table of Contents
Company Overview 3
Business Model and Scope 3
Primary Strategy 3
Target Market 4
Apple, Inc. Background Investigation 4
Industry and Competitive Analysis 5
External and other pertinent market conditions 6
SWOT Analysis 6
Financial Analysis 7
Action Plan & Recommendations 7
Works Cited 9
What is the definition of success? Apple Inc. surpasses this criteria of being a dominate business that's close to perfection. With record high performances, this company proves it is a force to be reckoned with. Along with 300 retail ...view middle of the document...
For Apple's hardware manufacturing program, the costs are lower and the quality is higher giving them the competitive edge. According to the reviewers, Apple's design and creativity draws other companies around them and inspires copycats because of its technological proficiency and ground-breaking design (The Apple Loop).
Finally, taking a look at Apple's retail area, they have the top notch products that customers line up for. The most popular products are their iPhones and iPads. Other products include their Mac books, iTunes, iPods, iLife, iOs, and Apple TV.
Apple's primary strategy is a broad differentiation strategy because they focus on introducing new products that will attract a broad spectrum of buyers and have a high competitive advantage over their rivals. Apple incorporates this strategy by moving away from ordinary computers and going towards expanding consumer electronics. Since having this strategy, Apple has been at the head of innovation with consumer electronics, introducing important products focused towards the advanced mobile market with their iPhones and the home entertainment industry with Apple TV. Apple is known for its values of artistic design not only in their product, but in their advertising campaigns as well. Along with their differentiation strategy, Apple has a sales strategy to never announce a product before it's going to hit the market.
Understanding what the product is about is the key to deciding the target market. Nearly all of Apple's products are based on the quick and easy access to the web, email, or music without having to be sitting at home at a stationary desktop (Marshall, 2010). Nearly everybody’s lives are focused around the Internet or multimedia in some way or another, so the portability and multi-touch features of the newer Apple products are important factors to most consumers.
Take for example the Apple iPad, it would be the ideal tool for students, professionals, parents, and even grandparents. The iPhone is ideal for anybody really, but mostly professionals on the go that need access to the internet, email, and phone all at once. In short, there is an Apple product for everyone, so it’s safe to say Apple’s target market is for anybody fifteen and above with an income of about three-hundred dollars a month.
Apple, Inc. Background Investigation
From its humble beginnings as the brain child of a couple computer geeks, Apple Computer Company has evolved into a leader in the consumer electronics industry and the largest technology firm in the world. Apple Computer Company was founded on April Fool's Day 1976 by Steve Jobs, a college drop-out and video game maker, Steve Wozniak, a computer engineer and programmer, and Ronald Wayne, who sold his stake in the company two weeks later. They launched their endeavor selling a handmade Apple I computer created in Jobs' garage that was so basic that it didn't...