The moment Apple Inc. launches a new product, you can easily find queue stretch to kilometers before the stores. The history repeated itself with the newly launched Iphone 11. Well, the entire credit for the brand success goes to the strategic managers who identify the Strengths, Weaknesses, Opportunities, and Threats (SWOT) so that the company achieves its goal.
SWOT analysis plays a vital role in deciding which factor is acting as a hurdle towards the success and how they can be eliminated. This blog is an effort to give you an insight into a company that holds twice the wealth as compared to the US treasury. This write-up is the work of strategy assignment help experts of Assignment Desk. Keep scrolling the page to know the secrets behind the success of your favorite brand- Apple Inc.
Before moving further, let us first have an overview of the company.
Company Name: Apple Inc.
Headquarter: California, USA
CEO: Tim Cook
Foundation Year: 1976
Net Asset: $205.5 Billion
Number of Locations: 500+ (as in 2019)
Founders: Steve Jobs, Steve Wozniak, Ronald Wayne
The day the company launched its first product ‘Apple 1 Computer,’ there was no looking back for the company. It turned out to be the most successful companies of all time. To get your facts correct, apple sold 217 million iPhones in 2018 which is a record in itself. Moreover, the stock price of this brand is currently at all time high (as on 11-10-2019). Ever wondered, “What makes the company so successful?” Well, the answer to this question lies in the subsequent sections.
The major contribution in the success story of Apple has been made by the business strategies followed by the strategic managers through the technique of SWOT. As said already, SWOT is an acronym for Strength, Weaknesses, Opportunity, and Threat. Let us now discuss about them one by one.
The strength of the company helps the managers to analyze the advantages that makes it stand tall among its competitors. Some of the strengths of the organizations are highlighted below:
Well-Renowned Brand: The brand presence of the company is one of the strong reasons that makes it the most powerful organization. The brand delivers its products globally and have billions of customers around the globe.
Technical Giant: No one can beat the iOS when it comes to security. Apart from the highly-secured operating system, it is one of the companies which never fails to come up with innovatory products. For instance, ‘Siri’ was the first personal assistant that eased the complexity of using a smart phone.
Currently in Demand: The Apple products have successfully find their place in business offices and corporate world. The technology used is such that it makes the business-related work smooth.
Eye-Catchy Designs: As per the assignment writing service providers of Assignment Desk, another striking feature that makes this company stand out from the crowd is the appealing design. Steve jobs, the founder of the company, emphasize more on the design, and the company is till now following the same footpaths.
Reusable Parts: This strength is cost-effective and thus, helps the company to reduce the expenditure in manufacturing the new products. 90% parts of an Apple device can be recycled and reused for the manufacturing process. This responsible work is done by ‘Liam,’ a robot designed by Apple.
Now, let us move on the weaknesses of the company.
No one wants to know their weaknesses? But in the corporate world, knowing them can act as a stepping stone in making an organization reach heights. And, similar is the case with Apple Inc. Let’s find out-
Less Marketing: Undoubtedly, Apple has increased its customer outreach and have gained some loyal customers. But, the company lacks behind on the marketing grounds. It seems like Apple is interested in spending millions of dollars to promote its services.
No Competition: Competition is good, but sadly Apple does not believe in competing with other companies. In today’s world, as soon as a technology arrives, many companies compete in the race to launch its product embedded with the technology. Whereas, we only hear from Apple when it launches its own product.
Expensive Products: If you are a person with low-income, then Apple products aren’t something you can afford. The products are exclusively for the ones having mid and high-income salary. This is again one of the major weaknesses of the Apple products in particular, and for the company as a whole.
Zero Compatibility: Apple products do not support other software and technologies. Due to this, an individual has to purchase apple apps and products. This makes a person feel isolated when he is surrounded by the android lovers.
Here comes the time to unleash the opportunities that the company exercises.
The brand managers analyze the opportunities present in the market to further reach their goal. Below are some of the opportunities available in context to the brand.
Rise in Customers: The retention rate of the company is 92% which itself indicates that the brand is dominating the technological market. The consistent growth of customers gives an awesome opportunity to Apple.
Wearable Technologies: As per a recent report by forbes, the sale of wearable device will double by 2022. This again opens the doors for the brand to capitalize the assets. And, yes let us not forget that the Apple watches are ruling the heart of the potential customers.
Use AI to the Maximum: We all know that the future belongs to the Artificial Intelligence and by far, Apple is using this technology decently. In order to double its revenue, it must focus more on AI. Although, in 2017, Apple acquired ‘Regained’ which was basically a French startup and also bought ‘Deskconnect’ which is an AI tool. But, taking into consideration the future market, it should focus on the technology more.
Group of Professionals: According to the strategic assignment help professionals, Apple Inc. is the home to the world’s best coders, developers, and researchers having vast experience in the technology sector. The pool of great minds can benefit the company further in launching innovating products and ultimately increase the sales.
Lets us now move on to the final analysis, viz., threat.
With popularity, comes good amount of threats. This is reflected by the number of problems faced by the brand in the market. Here are some of them:
Forgery: The biggest threat faced by Apple is the selling of counterfeit products. Many illegal dealers sell duplicate products having same features. People having less technical knowledge often fall prey to such scams. This results in negative publicity of the company. Furthermore, the dealers hold great expertise in making customers believe that it is a genuine Apple product.
Narrowing iOS Market: As of 2019, iOS occupies 24.55% of the market whereas, the android users occupies 72.23% of the market. This has narrowed the iOS market. Moreover, the technology used by the android device is two steps ahead from the apple products.
Tough Competition: Companies like, Samsung, Asus, Lenevo, etc., are giving tough competition to the brand on all parameters. Moreover, all these companies are giving the same feature provided by the Apple at an affordable price. The ‘smart’ customer will obviously buy the product which is cheap & loaded with features.
So, this was the complete SWOT analysis of the company- Apple Inc. Scrolling so far, you must have known how strategic managers analyze the growth of a company and make further plans in making it reach heights. Moreover, this piece of writing can be of great help if you are planning to write a strategic assignment. For further assistance, read the blog- Analyze Company Culture For Strategic Management Assignment With Simple Tools. You can also reach to our assignment writers to know some of the best topics of assignment. Our experts are proficient enough not only in providing you with a latest and trending topic, but also holds great expertise in writing your complete assignment. So, what are you waiting for? Reach to us and get a top quality academic paper.