Apple Inc

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Apple Inc

Apple Inc.

Intro

Apple Inc. or simple known as Apple is a global manufacturer of consumer electronics. Apple is considered one of the most successful companies in the world, earning roughly $170 Billion in revenue in 2013 and is the world’s most valuable company since 2013, . Apple is thought to only be getting stronger as each product released by apple is earning more and more revenue, however the competitors of Apple are beginning to catch up to Apples success.

Strengths and Weaknesses

Each apple product that is released has new and innovative features and developments which attract more customers. One of Apple’s most significant strengths is its customer loyalty. In the chart below, you can see that Apple has the highest level of loyalty and this gives Apple a great opportunity for future development, .

In another graph, you can see Apples revenue share. The iPhone is the largest revenue product for Apple and this information can be used to plan future strategies, . The iPhone has become the most successful market and therefore, Apple should try to focus on this market and also try to implement better strategies and developments for other markets.

One of Apple’s biggest weaknesses is the cost of and premium price tag that is associated with Apple. Although this can also be used as a benefit, it prevents a lot of the market from being able to afford the products because the apple products are generally the most expensive compared to most competitors, . Apple products are therefore only affordable by the medium to high income market, and the lower class market is unable to afford the iPhone or iPad.

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Apple Inc
Last updated: Sep 2023

Page 1

nefit, it prevents a lot of the market from being able to afford the products because the apple products are generally the most expensive compared to most competitors, . Apple products are therefore only affordable by the medium to high income market, and the lower class market is unable to afford the iPhone or iPad.

Recommendations

The first recommendation that I would make is to put more resources into developing new products that can increase the revenue. Apple has the brand name and resources available to penetrate any existing markets and therefore should use these to develop new products that can compete with existing competitors. For example, making a high tech watch could help improve the revenue and also can build Apple’s reputation, .

Another recommendation would be to provide cheaper alternatives for the lower class market. Apple has attempted this, however it was not effective because i believe the price difference was not large enough. The cheaper models should be more affordable and have a competitive price with other competitors.

Conclusion

Even though Apple Inc is considered the most successful and valuable company in the world, the Apple company still has numerous areas of improvement. Tim Cook, the current CEO of Apple said “I just want to build great products”. This is a quote that should define the culture and purpose of Apple. Ultimately, Apple has become an unbelievably innovative company that utilises effective marketing and promotional strategies, in addition to its effective production and development. Apple can only improve and as technology is developing so rapidly, Apple’s potential is boundless.

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Apple Inc
Last updated: Sep 2023

Page 2

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