Strategic Recommendations for Apple Inc.'s Brand

Strategic Recommendations: Apple
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Based on the above discussion, few inferences can be drawn about the Apple brand: it is a brand that has strong brand equity, as evident from the fact that whenever Apple launches a new product, long queues can be observed at any Apple store and the new products are sold out in minutes. Also, brand loyalty has reached a tipping point where the customers are placing pre-orders and are eagerly waiting for the product to be delivered (Razak & Zawawi, 2017).
Also, the logo is iconic and has become synonymous with a premium brand product. Due to the premium nature of the products, a premium price is charged to consumers who not only get a superior product but there is associated goodwill as existing users have positive experiences with their products. So, there is a strong possibility that users of Apple products will not buy products from competitors of Apple products (Razak & Zawawi, 2017).
Risks to Brand Equity
While Apple is a strong brand, there is a risk to brand equity as Apple being a premium brand, is unaffordable for many. There are many moderately earning people that want to purchase Apple products but cannot afford a new product end up purchasing older models, as they are cheaper than the new models. This means that there are many consumers that want Apple products but cannot purchase them. As a result, significant revenue is lost (Forbes, 2019).
Another risk to brand equity is that Apple as a company has continued offering products in limited colors, including black, white, and beige, which are considered to be 'classical' colors. The need for vibrant colors could be attributed to the fact that mobile phones have become a fashion accessory (Zeebiz, 2021).
Recommended Brand Strategy- Implementation and Risks
To reduce the impact of the above-discussed risks, Apple can introduce some products under a related brand that are new yet affordable, thereby increasing the revenue for the company and further contributing to the brand equity...