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Analysis of the Apple Company and reasons for its success.

Extracts from this document...

Introduction

University of Wales & Management Development Institute of Singapore (MDIS) GROUP ASSIGNMENT COVER SHEET Submitted on Due Date? Yes (Date Submitted: 24/Apr/2009) Word limit observed? Yes (Number of words: 4658 words count excluding tables) TABLE OF CONTENT Executive summary.......................................................................................4 I. Introduction..............................................................................................5 II. Analysis Critical Successful Factors................................................................7 1. The cult brand.....................................................................................7 2. Innovation products..............................................................................8 3. Excellent leadership ..............................................................................9 4. Supply chain management.......................................................................10 III. Insights ................................................................................................12 IV. Recommendations....................................................................................15 1. Current problems of Apple.....................................................................15 2. Recommendations................................................................................17 V. Conclusion.............................................................................................19 References..................................................................................................20 EXCECUTIVE SUMMARY The Apple Company is one of the most admired and success brands in the world. That is company, when it is good - is very very good, whereas when it is bad, it flounders. Today, Apple continues to lead the technology industry in innovation with its award-winning computers and stands a very high position of rival among competitors. So what are the critical factors contribute to the cult brand called APPLE? Following the researching Apple's steps to success, this assignment is divided into 5 chapters: Chapter 1: Introduction Chapter 2: Situation Analysis Chapter 3: Insights Chapter 4: Recommendations Chapter 5: Conclusion Chapter 1: Introduction Apple Inc. is an American multinational corporation which designs and manufactures computer products and consumer electronics. Apple was founded in Cupertino, California on April 1 in 1976 by Steve Wozniak and Steve Jobs with the name "Apple Computer, Inc.". After some disastrous losses in the 1980's and 1990's to their main competitor, IBM, Apple was able to re-invent the entire company. When Jobs returned to Apple in 1996, he took an expanded role as CEO and not only continually pushed for innovative ideas and products but also compelled several structural changes and led Apple to success. On January 9, 2007, it was the first time during 31 years, the company's name dropped the word "Computer" and changed into "Apple Inc." that reflected the company's ongoing expansion into the consumer electronics market in addition to its traditional focus on personal computers. ...read more.

Middle

In 2003, Apple's iTunes Store was introduced, offering online music downloads for $0.99 a song and integration with the iPod. The service quickly became the market leader in online music services, with over 5 billion downloads by June 19, 2008. In February 2008 the iTunes Store became the second-largest music retailer in the U. S., right behind Wal-Mart. Almost everything Apple makes transcends gender, geography, age, and race. An Apple Store is a demographic melting pot, with computer games for kids and a Genius Bar for their parents and so much cool stuff to touch that it's a magnet for young people Chapter 3: Insights Apple is a technology brand like no other. Company understands that people choose brands based on emotional responses. With the edible name and the products "make you want to lick them", a PC might me a machine, but it not sold to robots. Whereas, you can bet Dell Company never said that about their computers. Apple's computers, such as the legendary iMac, are design icons. It has taken the fear factor out of technology by giving it a personality. In my opinion, Apple holders, they are not using their computers that are simply another item of furniture; it might as well be pleasing on the eye. Apple products inspire strong emotions because the brand defines the identity of its customers. Holding an iMac, it seems like owning a Ferrari car says something about you. It like all cult brand, a collective individuality, people want to be different, but they want to belong. Therefore, build expectation or forecast, impulse the holdings growth base on company brand name and increase productions investment. MiniCooper of BMW is one of similar example. After promulgated about this car, the expectation of market increased dramatically and distributors of BMW got so many orders from future customers who want to own this car even before seeing it. ...read more.

Conclusion

They must also be able to retain customer loyalty which has contributed to their success. One mention relates directly to the iPod and iTunes. Currently, Apple is leaving money on the table, so to speak. Apple has also been under pressure from the music industry to increase prices on iTunes. They might have to completely reconsider their pricing strategy in order to try to satisfy consumers as well as the music industry. Particularly, for downloading songs, consumers have to pay $.99 for a song or typically $9.99 for an album through iTunes. That is why there is a big amount of consumer not interested in that. On the other hand, other competitors of Apple give good offers for their consumers who can download free many songs they would like. With this adaptation, Apple could aim to attract more new consumers and expect that they would be interested in other Apple products in long term. Hopefully, in the next year, consumers will be satisfied by new products which are considered as further and longer paces than its rivals. Furthermore, with very low market share internationally, there is plenty of room for growth; thereby Apple should implement internationally strategic plan. Hence, the company could exploit the potential market segments such as China, Vietnam, and Thailand. Apple seems to have nailed it when it comes to the MP3 player market and can possibly create a strong brand name from that in the international market. Chapter 5: Conclusion In technology industry, Apple can be called as a leading computer and entertainment products nowadays which is still able to make great money on their excellent products. In order to continue with rapid growth both on American soil and beyond, Apple may focus on distinguishing themselves with top of the line products and services. Apple has seen success and growth in the past two year in the architecture, engineering, and construction industries. Basing on all advantages in the whole market like that, Apple is more and more successful when continue to push more innovation products to the market. ...read more.

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