Apple is a US-based company with its headquarters in Cupertino, California. It is a multinational technology company and a trusted brand that has grown over the years. Apple was founded in the year 1976 with Steve Jobs, Steve Wozniak, and Ronald Wayne being the key pioneers and founder of this company. The company sells its products to more than 100 countries all over the world. These products include online services, computer software, and consumer electronics which are widely used. Apple is traded under NASDAQ with Tim Cook being the current CEO. There are a lot of details regarding apple not discussed here since our main focus is on Apple’s swot analysis but you can contact elite academic brokers can assist in giving full and in-depth details on Apple and how it operates. We can help out in giving a full overview of Apple’s products and assist you with computer assignments regarding Apple.
Our main focus, for now, is the swot analysis of Apple which is a strategic management decision-making tool used to help address issues affecting the company. Given below are the strengths, weaknesses, opportunities, and threats in Apple.
The following are the strengths in Apple and strategies that can use to create a competitive advantage over the other companies.
Innovation Apple’s unique ability to produce innovative products is outstanding. Apple has designed unique and easy to use products being a solution to the consumers. The innovative products are designed with the latest trends in technology. From Macbook being among the first innovative products to iWatch being the latest, Apple has been able to dominate the technology industry along with other big tech companies. This has been a major strength in Apple.
Strong brand image and identity Apple’s products have been used internationally over the years. It has been ranked position one for seven consecutive years for the most valuable brand. Apple has maintained a high level of quality for its products hence a strong brand recognition to its customers and clients.
Global coverage Apple’s operations are widespread in most countries all over the world. The market for Apple’s product is distributed globally hence a strong market base with stores in most countries and online channels. This increases the sales of Apple’s products hence financial gains.
Strong research and development Apple have a strong research and development department aimed at carefully studying the market and its customers to understand their requirements and the gap they need to fill to keep up with the latest innovations.
Incompatibility Apple’s products are incompatible with other devices as these products do not support third-party software. The exclusivity of Apple’s products has a large impact on consumer decision making as they have to purchase and use Apple’s apps and accessories with Apple’s products where some apps are rather expensive to them.
High-priced products Apple’s products are relatively expensive charging premium prices across all its products. The market share for Apple’s products is low in developing countries as most people are low-income earners and cannot afford Apple’s products. The other smartphones take the market share as their products are lowly priced. The high-priced Apple products are mostly affordable to middle and high-income earners.
Narrow product line Apple has a limited number of varieties with its range and set of products being narrow. The narrow range in the products is a major weakness as a failure of certain products will drastically affect Apple as a company since all the products contribute to the growth in revenue.
Product diversification Apple’s strategy to add more products to their portfolio will be of great value in terms of competing with other companies in the technology industry. Offering these increased products at a cheaper price especially to the developing countries will ensure increased sales since middle and low-income customers will be able to purchase the product.
Expansion of the distribution network Investment in the marketing and promotions department will help Apple increase its operation globally. This can help Apple’s distribution and creation of a market for its products internationally. Sales will increase as potential customers will be reached hence the growth in the company’s revenues due to the expansive distribution network.
Smart wearable technology This is a great opportunity for Apple because according to statistics the smart wearable technology will dominate the world soon. In this case, Apple has a huge opportunity to design and produce other wearable products apart from the Apple Watch. This will help generate more profits for the company if it takes that opportunity.
Increasing Competition Emergence of new technology companies and also the existing companies producing the same products as Apple is a major threat. These competitors include Google, Samsung, Sony, Dell, Nokia, and others. Most of these products offer and sell their products at a cheaper price as compared to Apple with their technological advancements and features almost the same as those of Apple. This tends to attract most consumers who will eventually buy these products hence a major threat for Apple.
Imitation Apples counterfeit products have been made and sold in most markets especially the third world countries. These counterfeit products are sold for the same price as the original product. When consumers buy these counterfeit products thinking it is the original product, they end up getting poor quality and Apple getting reviews and bad publicity for this. Technology is also sometimes stolen where Apple produces launches a new product and other companies produce a replica of the substitute hence a major threat.
Market penetration in smartphones This is a major threat as other brands are penetrating the smartphone market. These companies are using android software for their smartphones and they include Lenovo, Samsung, HTC, and others. The android market is higher as compared to Apple’s market share. This is a threat to Apple in the case of the smartphone.
The swot analysis given is specific to Apple and is a major decision tool which helps to point out issues that need to be addressed for more profit generation and factor that Apple can continue maximizing which are the strengths and weaknesses. These will contribute to the major growth of the company. Please feel to contact us at Elite Academic Brokers for details regarding Apple and other research topics.
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