Apple is one of the largest renowned companies across the globe trading in electronics. The company has a stable segmented market as well as unique electronic products that are known for excellent quality.
Apple’s SWOT analysis
Apple has very innovative products in all its brands. The most notable innovative products include the iPod, iPhone, and iPad. The products are of high quality, an aspect that significantly increases its customer base and strengthened market position.
The company has a consumer focus mind. According to (Yang & Dong, 2017, p.920), customer consideration is a prerequisite for consumer loyalty and retention. Apple ensures that all consumers are satisfied with their products and always strive to address consumer complaints immediately. This has enabled the company to retain and increase its consumer base.
Most of the company’s products are incompatible with third-party products. Consumers are always willing to purchase commodities whose spare parts are readily available for easy fixation upon a break down (Warren, Barsky & McGraw, 2018, p.529). However, Apple’s products need spare parts from the same company, a factor that makes some clients to reject the company’s electronics.
Also, the company has limited products as opposed to that of its competitors. Consumer’s change of taste against one of the company’s products will lead to a significant decline in the financial position of the company.
The company has a growing market as a result of huge investments in marketing. According to Gladka & Fedorova (2019, p.153), appropriate marketing strategies and market segmentation result in stability and expansion of the company’s market. Apple has managed to have a high market command as a result of the incorporation of social media in its marketing campaigns.
The company has a growing number of competitors most notable Google and Dell. This has led to increased sales volume for the company.
Customer consideration has worked well for the company since all consumers prefer purchasing commodities in a company that considers their preferences. However, lack of compatibility between the company’s products and other products from competitors has not worked well for the company as most consumers consider compatibility aspect in their purchasing behavior.
Gladka, O., & Fedorova, V. (2019). Defining personnel marketing strategies. Business: Theory and Practice, 20, 146-157. doi:10.3846/btp.2019.14
Warren, C., Barsky, A., & McGraw, A. P. (2018). Humor, comedy, and consumer behavior. Journal of Consumer Research, 45(3), 529. doi:10.1093/jcr/ucy015
Yang, L., & Dong, S. (2017). Sustainable product strategy in the apparel industry with consumer behavior consideration. Sustainability, 9(6), 920. Doi: 10.3390/su9060920