SWOT Analysis
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SWOT Analysis
Growth and development in terms of revenues and brand name is a dream for every business. To achieve this goal, businesses must be strategically aware of their business environment to understand their weaknesses and strengths, as well as threats and opportunities to address and exploit them accordingly. Such factors are enshrined in SWOT Analysis, hence the need for all companies to have it. This discussion will give an example of SWOT Analysis for Apple Inc. among other aspects of the company, including a marketing plan for one of its product or service lines.
Apple Inc.
Apple Inc. is an American-based multinational technology company headquartered in Cupertino, CA, and mostly focuses on technology, particularly consumer electronics, software programs, computer hardware, and online services (Aljafari, 2016). Some of its products include, but are not limited to, computers, operating systems, cell phones, media players, tablets, and computer applications (Pratap, 2021).
Apple Inc. was founded by Steve Jobs, Steve Wozniak, and Ronald Wayne in 1976 as a small personal computer manufacturer. Since then, Apple has gradually grown via strategic innovation and expansion in the electronic industry to produce high-quality products that satisfy changing customer needs and incorporate new technologies and possibilities (Aljafari, 2016). The company started seeing significant growth when Steve Jobs took the leadership of the company in 1997. Jobs led the company successfully until 2011 when Tim Cook (the current CEO) took over (Aljafari, 2016).
Apple has moved through different products starting from Apple I to Apple II and others such as iPod, iMac, iPad, and iPhone series. Up to now, Apple has released up to iPhone 13 pro max, which is its most selling product. Most of its competitors include Samsung, Google, Dell, Sony, Asus, and Nokia (Pratap, 2021). It has a huge base of loyal customers who would literally line up to scramble for apple products whenever develops a new one.
SWOT analysis
Strengths
Apple has a valuable brand. It is the most valuable and strongest brand in the world – a strength that makes it easy for the company to introduce new lines of mobile devices successfully into the market as it has been (Li, 2021). Other strengths include a widespread distribution network, experienced professionals, innovation in top technology, finance, and a wide range of products. Apple is a global icon with unique and appealing products (Tian, Wang, & Wang, 2022).
Weakness
Apple has premium prices that exclude lower-income customers. It has little advertisement and promotional efforts and some non-competent areas like game streaming, payment services, and video content streaming (Li, 2021). Other weaknesses include Software Incompatibility, Tracking Allegations, Biased Business Practices, Fewer Phone Designs, and a dwindling Market Share. Apple has a limited distribution network (Tian, Wang, & Wang, 2022).
Opportunities
Apple benefits from Constant Technological and Customer Growth and a huge team of experts and professionals. It can expand its distribution network worldwide and to new market segments (Li, 2021). Other opportunities include Green Technology, Smart Wearable Technology, Music Streaming Services Opportunities, Artificial Intelligence, Self-Driving Software Technology, Chip Manufacturing, and Fitness Feature of the Apple Watch (Tian, Wang, & Wang, 2022).
Threats
Apple’s AirTags have been used for malicious activities including stalking people and stealing cars. The coronavirus pandemic negatively impacted the company by hindering Apple’s supply chain and manufacturing (Li, 2021). Apple suffers from the sale of counterfeit products. Other weaknesses include increased competition and market penetration by other brands like Samsung, HTC, and Lenovo. Apple suffers from lawsuits, criticism, a Backdoor Mechanism, and the challenge of adapting to new technologies (Tian, Wang, & Wang, 2022).
iPhone 13 Pro Max
This paper will develop a marketing plan for iPhone 13 Pro Max. This is the latest iPhone developed by Apple and has not fully penetrated the market (mint, 2022). The SWOT shows that Apple has a huge customer base, valuable brand, finance, expertise, and high-quality products (mint, 2022). The company only needs to create awareness of the product but has a weak marketing and promotional strength, hence the need to invest in marketing and advertisement.
iPhone 13 Pro Max and its Competitive Advantage
iPhone 13 Pro Max is itself a core product with core features such as phone service, texting, web browsing, photography, and adding new functions via app installation (mint, 2022). The iPhone 13 Pro Max is also an extended product with respect to the earlier versions of the iPhone that has been released from iPhone 1 to iPhone 12. According to (Li 2021), an extended product is a new product placed on an established product’s brand name on in the same category. Constant update of its product to the current iPhone 13 is a product concept used by Apple. It also manufactures its products in Asia to keep a low production cost. Apple is known for manufacturing top-quality products. It produces innovative products with a unique operating system, software, and applications (Pratap, 2021). The iPhone is packed in an artistic and visually appealing manner that allows the device to be seen inside the box and attract customers. Apple has achieved this competitive advantage by supporting employees and their talents and expertise in the industry (Tian, Wang, & Wang, 2022).
Apple Inc. is an example of a strong brand. It has been able to dominate the computer and phone industries for decades. Both established and upcoming companies should emulate its styles for better performance. However, Apple must continue to evaluate itself using tools like SWOT and make necessary adjustments to maintain its dominance.
Reference
Aljafari, A. (2016). Apple Inc. industry analysis business policy and strategy. International Journal of Scientific & Engineering Research, 7(3), 406-441.
Li, Y. (2021). Apple Inc. Analysis and Forecast Evaluation. Proceedings of Business and Economic Studies, 4(4), 71-78. https://doi.org/10.26689/pbes.v4i4.2389
mint. (2022). How a change in strategy helped Apple clock record iPhone sales in India. https://www.livemint.com/technology/how-a-change-in-strategy-helped-apple-clock-record-iphone-sales-in-india-11643864062182.html
Pratap, A. (2021). Apple Sources of Competitive Advantage. notesmatic. https://notesmatic.com/apple-sources-of-competitive-advantage/
Tian, W., Wang, M., & Wang, Q. (2022, March). The Core Competentness of Apple Inc. In 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED 2022) (pp. 718-725). Atlantis Press. https://dx.doi.org/10.2991/aebmr.k.220307.116