INTRODUCTION ABOUT APPLE INC.
What comes to your mind when you hear this famous saying, “An apple a day keeps a doctor away’.? Obviously, a fruit having the tendency to act as a hunger remover instantly. But, nowadays when people discuss “Apple”. A logo with a bite on an Apple. A luxurious tech brand with an identity that in itself is enough to attract customers and maintain goodwill amongst them.
Based in Cupertino, California, and with the most popular global footprint, Apple Inc. is a tech giant that develops, designs and sells consumer electronics. It also sells computer software and, online services. Besides Tech giants like Amazon, Microsoft, Google, and Facebook, it is non arguably the global leader in technology products and services. Formerly known as Apple computers, Apple Inc has emerged and captured the minds of people globally in terms of not only cell phones but, also it has reshaped the way computers were developed and the technology itself is amazingly demonstrating a unique but impressive growth led strategy of this wonderful company. Recently, it has been valued as the richest company of the world with its value crossing $2 trillion in late August 2020.
Apple was founded on April 01st, 1976 by Stephan G.Wozniak, Ronald Wayne, and Steve Jobs. They developed a commercially viable computer called Altair 8800. By forming a partnership, they came up with a computer that they named Apple 1. They presented their first computer publicly at Homebrew Computer Club. The point that must be noted is that Steve Jobs was the person who was behind the idea of this computer. They had the vision to make computers small enough for people so that they can use them in their homes and offices.
At the early stages, IBM was the main competitor of Apple. Apple by introducing McIntosh announced its intentions as the revolution is on the way in terms of offering modern PCs to users. Steve Jobs left the company in 1985. In 1991, Apple, IBM, and Motorolla signed an agreement for developing a next-generation microprocessor chip for Motorolla, But, the unprecedented rise in costs came in the way of this partnership. This resulted at an end of this agreement.
Over the years during the 1990s, there were changes in management which had a varied effect on the company’s reputation. For example, in 1993, Michael Splinter took charge of Sculley as CEO. He refocused on the marketing strategy deployed by the company. But, the issues kept evolving in the shape of faulty monitors during his tenure. Ultimately, in 1996, he had to give charge to Gilbert F. Amilo.
RETURN OF STEVE JOBS
Despite these changes, the results could not prove fruitful. This marked the return of Steve Jobs in 1997 as a leader. He started taking decisions on an urgent basis. The most notable ones were signing an agreement with Microsoft to streamline processes and deploy technological improvements in Mac OS. He focussed his attention on developing Mac series a friendly product for education, publishing and, consumers in a designed all-in-one MAC. This boosted Apple’s financials and the company made a profit after a gap of 3 years in 1998.
In 2001, I-Tunes were introduced. It was a music program for enabling users to convert MP3 digital format. The company started selling iPods and by 2006, it resulted in the selling of more than 1 billion songs and videos through the website of the company. The company kept improving its services. It introduced the iPhone in 2007. It had the capabilities of cellphones for playing MP3 and videos by using the internet. Later, the company modified it for 3G technology and added additional features of GPS. In 2009, the company introduced iPhone 3GS. The result was very amazing as in the first three days, 3 million copies sold, and much more. The product had an improved camera and came with OS3.
In 2010, the company introduced an iPad. It was a touch screen device. It was capable of providing features of a cellphone and a computer. The company through collaboration with many companies developed its first iBook. In 2011, the company introduced iCloud. It was a cloud computing service and could be used for storing files, documents, etc. Steve Jobs resigned in 2011 due to health reasons. Tim Cook took the charge as CEO of the company the same year.
In 2014, the company acquired music company “Beats” for $3 Billion. Later year, the company introduced its first smartwatch.
PRODUCTS OFFERED BY APPLE
Famous iPhone series include:
11 and 11 Pro
8 and 8 Plus
MARKETING MIX OF APPLE
A marketing mix refers to the marketing strategy of the company by which it looks at the four aspects for delivering its product to the end customer. These are called 4 P’s of marketing and include Product, Price, Place, and Promotion. Marketing mix of Apple include:
Apple Inc. makes a wide range of products. All its products are of unique identity and come with distinct features. It makes different kinds of products like iPhones, MacBooks, headphones, smartwatches, Tv, etc. The company also provide services like iCloud, Apple Pay for its customers
Apple adopts a premium pricing strategy. This means that its product come with high prices.
It sells its products both online and through its own outlets (Apple stores) around the world. The retail network of the company is spread across 25 countries of the world and with over 500 retail outlets.
The company has decreased its advertising spending in 2019. It has lowered its advertising expenses from $243 Million to 76.3 Million as compared to 2018. Still, Apple inc. is able to sell its products to a wide range of customers globally due to its brand strength and image. The company has used modern means of marketing like Youtube, Magazines, Billboards, etc.
The unique aspect of Apple inc. is that it does not use any kind of celebrity endorsement for marketing its products. This is a huge difference as compared to its competitors.
BUSINESS MODEL OF APPLE
Apple Inc. has a business model that is customer-centric. The company uses innovation as its key to success. It is constantly coming with unique and mind-blowing ideas. The company is not compromising on the quality of its products. It is constantly upgrading its software. It is doing so for providing a better user experience. The company on a continuous basis is coming up with updated versions of iOS. A user always admires the changes made by the company.
FUTURE VISION OF APPLE
Apple inc. is aiming to develop an end-to-end ecosystem of products and services for highly immersive AR/VR experiences. These features will be provided for both consumer and business purposes. In addition, the company is also eyeing to develop edge intelligence models based on distributed intelligence across connected devices.
Most experts reveal that the companys future vision is to develop products like:
Vision Cars including:
Apple is the name of innovation. It is the name of uniqueness. It is the name of excitement. Apple has made roads in success and comes up a long way. It has not only made a name in iPhones but MacBooks,iPods, and much more are its brand identity. It is important to mention that according to the list of top global brands, Apple is on the top of the list for the year 2019. The success story is not a result of the overnight struggle. It is a long but inspiring story.