Apple inc. keeping the 'i' in innovation Case Study

Apple inc. keeping the 'i' in innovation - Case Study Example All its products have seen tremendous success in the recent decades. However the company focuses mainly on the niche market and is facing a tough time in the gaining revenue through sales of its products. The company although, is one of the top companies selling mobile phones and laptops, there is scope of further improvement in the business strategies of the company. Analysis of the internal environment of the company Strengths High tech products Apple is the pioneer in the production of innovative high tech products. Apple is the inventor and producer of iPhone, iPad, iPod and the Mac. Apple is one among the most admired brands in the whole world and holds the 6th position in the list of Fortune 500 companies (O'Keefe). Every new product launched by the company is awaited fervently. Last year (in 2012) the company had launched the iPhone 5 as well as the iPad mini, which saw tremendous success. It brought record sales for the company in the last quarter of the year and brought huge sales revenue (Akhtar). Charisma of former CEO Steve Jobs Steve Jobs was a charismatic visionary who had a strong admiration towards constant innovation and was a genius leader. Technology, according to Steve Jobs, was a means of enhancing communication among people and bringing them together. His personality attracted employees within the company and also fans among the external stakeholders. He had the capability to give a new shape to the perceptions of people; which at present stimulates their level of acceptance about the company’s products (Razin and Kark 241). Brand name Apple is a brand name that is globally recognized. This brand has a clear and distinct identity. Any good brand has four dimensions, such as, brand name, trademark, visual appearance and brand communication. All these dimensions can be recognized and identified with the brand Apple. This allows the brand to maintain its quality level at a high position, perform better than most other companies in the industry globally and embody those values that help the brand to win its customers’ admiration, respect and loyalty (Danciu 3). Large segment of loyal customers This brand success of Apple Inc. has not resulted from some luck factor or forces beyond the control of the company’s marketers or its leaders. Apple’s success is a part of its well-thought-out plan to attract customers. The plan is two-fold; the focus lies on innovation as well as marketing by keeping in minds the preferences of the customer and background of the market in which it makes the campaign. Therefore, a keystone of Apple’s plan is â€Å"to deliver ‘strong products’ and create an ‘Apple culture’† (â€Å"12 Effective Strategies Apple Uses to Create Loyal Customers†). These strategies help Apple to attract customers and achieve remarkable customer loyalty. Strong research and development department The amount of money spent on the research and devel opment division of Apple has been increased in 2012 from the previous year. The company believes that â€Å"focused investments in R&D are critical to its future growth and competitive position in the marketplace† (Lowensohn). The R&D of the company is directly related to the timely maturity of new products and enhancement of existing products. These are fundamental aspects of the core business strategy