Apple Competitive Analysis Of Phone As Compared To Other Smartphones
Using the concept of comparative advantage, students analyze trade opportunities and use the model of supply and demand to explain factors that could affect demand, supply and prices. Determine various factors that could affect their Apple's total revenue and recommend actions the firm could use to maximize their profit and their presence in the market served.
Assignment Steps
You have been given the responsibility of working with Apple's CEO to do a competitive market analysis of the IPhone X potential success.
Research Apple and the new IPhone X.
Write a 1,100-word analysis of the current market conditions facing your product, making sure you address the following topics:
Define the type of market in which your selected product will compete, along with an analysis of competitors and customers.
Analyze any comparative advantages and international trade opportunities.
Explain the factors that will affect demand, supply, and prices of that product.
Examine factors that will affect Total Revenue, including but not limited to:
Price elasticity of demand
Factors that influence productivity
Various measures of costs, including opportunity costs
Externalities and government public policy and their effect on marginal revenue and marginal cost
Recommend how your organization can maximize their profit-making potential and increase their presence within the market served by the product.
Format your paper consistent with APA guidelines.
Apple Inc.Competitive Analysis
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Apple Inc.competitive analysis
Apple Company is a multinational corporation that specializes in electronic devices with several branches all over the world. Apple manufactures and markets devices like digital music, personal computers, media devices like cameras, mobile communication devices, television sets among others. To understand Apple's market position; it is important to analyze its competitiveness. Apple Company is known for its latest invention, the iPhone X. The iPhone X is a sophisticated mobile device that combines mobile phone features, iPod, and wireless internet connection. IPhone is 4 inches long, with a touch screen that operates using one finger replacing keyboards (Galloway, Albert & Freedman, 2013).
Analysis of phone as compared to other Smartphones
Iphone X is operating in a market where a few firms have a large majority of market shares. Handful producers dominate the market, but they cannot make decisions when it comes to market prices. Apple introduced the iPhone to compete with different Smartphones. Two major businesses that compete with Apples' iPhoneX are Microsoft, and Google that produces Android phones (Chun, Chung & Shin, 2013). The three major competitors are Apple, Microsoft, and Google; however, iPhoneX has a competitive edge with its market share increasing to 48 percent as compared to Google Android phone with a market share of 46 percent (Chun, Chung & Shin, 2013).
The demand for iPhone has significantly increased because of its unique features. Apple has experienced challenges in supply, but has since overcome supply challenges by introducing Samsung Galaxy to reduce the high demand. Apple Inc. has managed to stay on top of its competitors because of its ability to utilize its links within institutions, improving its customer relations, combined with supplying quality products (Dubovik & Janssen, 2012).
Recent research studies reveal that most phones purchased in several organizations, 87 million are Android phones and 7 million are apple phones. Research further reveals that people prefer Android phones as compared to iPhone , even though iPhones are bring supplied in the market (Rios, McConnell & Brue, 2013). Apple Company needs to enhance its competition to sell more products in institutions and organizations that need new technology (Rios, McConnell & Brue, 2013).
Apple Company has developed better strategies to have a competitive edge over Google. Apple has improved its security system of their products by including security application on its phone to attract business organization that needs to use secure technological products (Dubovik, & Janssen, 2012). These new features have made Apple become one of the top-ranked corporations with more than 69 million iPhones being supplied all over the world (Dubovik, & Janssen, 2012). With new innovative features like MacBooks, iPod, iTunes, and iPod. Apple Company have revolutionized how people communicate and even interact. Apple has penetrated all the market making it a household name despite selling their products at a higher price compared to its competitors (Dubovik, & Janssen, 2012).
Factors that enabled Apple to have a competitive advantage includes its new iPhone touch screen that is more appealing, making iPhone the most used Smartphone by many consumers. Apple offers diverse products it sells electronic products like laptops, kitchen equipment, television sets (Chun, Chung & Shin, 2013). Offering a variety of products, Apple growing success is attributed to multiple customers who buy their products.
Apple relies on customers' trust; people buy products like iPhone due to trust they have for the company. Apple has taken advantage of international trade opportunities to improve its iPhone sales (Dubovik, & Janssen, 2012). In the last three years. Continents like Africa is a growing market, African governments have invested in ICT technology within their daily operations. The government has adopted faster ways to improve its service delivery (Dubovik, & Janssen, 2012).
Learning institutions are adopting online services; financial institutions are becoming digital in making their data with wireless phone replacing old technology. These are some of the great opportunities Apple Inc needs to explore further to expa...
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