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It is known for its electronics, software, and personal computers. Their products have been admired the world over, the Fortune magazine has ranked…
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Apple Inc. Apple Inc is the second largest multinational company in the information technology sector all over the world in terms of revenue. It is known for its electronics, software, and personal computers. Their products have been admired the world over, the Fortune magazine has ranked it the most admired company in the world from 2008 to 2012 (Fisher, 2013). The company utilizes diverse means to reach out to their customers, including having retail stores, online stores, and selling to wholesalers among other ways. Their business process involves the development of innovative information technology products. The success of Apple Inc. is characterized by innovativeness, acquisitions, and product diversification.
Apple Inc. is a company that has grown to a multinational with a great reputation across the world. In its path, innovation strategies, product diversification, and acquisitions have contributed greatly to its success. Apple Inc stands on the philosophy of “think different” which means the company is focused on innovation (Apple Inc, 2014). Apple has been consistent in the development of its products; they have embraced changes in several occasions hence developing products that have hit the market by storm. Another strategy the company has adopted is diversification. When the company was started, its sole mandate was to develop and sell personal computers. However, over time the company has diversified shifting from this role to that of developing and selling consumer electronics such as mobile gadgets, televisions, and iPods among others. The strategy utilized by Apple Inc is the differentiation strategy.
Apple Inc. has developed various mechanisms to have a superior brand that differentiates itself from the competitors. The company’s innovativeness, leadership, and ability to embrace diversification of products characterize these strategies. In the electronic industry, Apple Inc. has created a respectable brand that people have confidence with. It has attracted technology enthusiasts and those in need of certain aspects in electronics. Creating an impressive brand promotes customers’ loyalty and presents psychological benefits to them. By remaining innovative and establishing new products that are unique from those of the competitors, the company is able to foster customer retention and hence brand loyalty.
Various information systems are likely to give the company a competitive advantage over the rest. Such include the ability to use the social media platforms to market and create product awareness. Social media appears to be underutilized by the company hence an opportunity for the company. In addition, the company can also develop systems that help them tap innovations across the world by developing a link that will allow potential product developers suggest changes. Technology is very dynamic; therefore, there is the need for Apple to consider ideas from people all across the world. The link should direct to a program that allows incubation of ideas and information sharing.
In conclusion, Apple Inc. stands tall courtesy of its brand that is built on innovativeness and product differentiation. The company cannot enhance its technological devices through the internet platforms such as the social media as well as through the website. The website is underutilized and hence can be used for tapping new and innovative ideas.
References
Apple Inc. (2014). Apple Inc.
Fisher, A (2013), America’s Most Admired Companies, Fortune Magazine. 157 (5): 65-67 Read More
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