With a wide range of products under the name of the multinational technology company such as iPod, iPhone, Apple Watch, Macintosh, macOS and a lot more in the list, the company has touched success zenith in a short period of time. Founded in the year 1976 by Ronald Wayne, Steve Wozniak, Steve Jobs. The three guys stepped in the industry with their innovation, their first computer, Apple I. It was a single-handedly designed and was built by Steve Wozniak which was displayed to the mass at the Homebrew Computer Club. This way, the company came up with various other models such as Apple II.
The multinational company also went through myriads of ups and downs in its business. The best thing was the dedication and the work of Steve Jobs and the other founders which always took the company to the success roads. Let us have a look at the factors which the board directors of the company have been considering. The phrase defines this tech giant completely, Either Love It or Hate It. You can’t ignore it.
Before proceeding, you should know that the share price of the company in the year 1997 fell to less than a dollar. But the drastic change which took place everywhere year and made the share price arisen to 210USD by the year 2018 was due to the thinking of Steve Jobs. What he used to consider of the utmost importance was the user experience. He believed that the quality of the product should be the best so that the user can trust the company blindly. So, in this direction, he worked and trained the work-specific employees to deliver their best.
After that, beautiful products were designed to give the users a feel of belongingness.
How does the company be able to do so?
- No focus on technical specifications
The strategy which the company follows is unique, and the other mobile technology developers and other tech companies copy. Apple Inc. designed a lesser number of models every year never focusing on the technical specifications. The main aim behind it is to give the best to the customers enriching their user experience.
- Attention to detail
The intense the attention to every detail, the better the experience of using the product. The best examples are Siri, the quality of the work the voice assistant gives to the users. The high quality of the voice assistant helps it to complete more than 10 billion audio requests every month.
- The company is famous for taking risks
The company is well-known for taking risks. You can guess it from the fact that it is the first company to add USB ports into the devices. Moreover, the tag of the company to detach the headphone jack from the phone.
Other traits which increase the user experience of Apple Inc. is its simplicity. It works with the principle that simplicity is the ultimate sophistication. Furthermore, the unique ecosystem created under the working atmosphere of the company is amazing. The devices of Apple can be easily interconnected with each other.
No brand can do good without out of the ordinary marketing team, and Apple strengthened its team by the year 1997 and did and created history. We all know how well-established the brand is now. In the year 1997, there was a steep downfall in the reputation as well as revenue of the company. Steve Jobs came as the saviour with its marketing strategy. He started the “Think Different” campaign. He targeted the people who he thought would be the game changers and work to create history.
He was a man known for his presentation skills. The audience used to listen to his presentation of the length of a movie with keen and try to understand how the product was capable of solving their problems.
As we all know, there are four major quadrants of the company in which it has been working, iPod, iPad, iPhone and MacBook. The stock price of the company has grown with a steep percentage of 15,000% from the year 2001 counting it to one trillion.
iPod is the oldest product of the company. According to the market, there has been a downfall in the market share of the product. Moreover, the need of the products has also declined. There are four quadrants in which a company works,and the success of the company depends on the strategy which it forms analyzing the position of an entity in it. According to the BCG matrix, iPod is named as a dog. That means, the company should divest from it.
There is no doubt that the demand for the laptops will increase till 2040. The saturation point might come after it. According to various resources, Apple Inc. stands at 7th position in selling the laptop across the world. But the concerned thing is that the market has not built up to the mark. As per experts, the best thing which can work for the company is the analysis of the buildup of the market. Making a wise decision, whether to divest from it or invest in MacBook can change the entire game for Apple Inc.
iPhone, the product of the company, has become the second largest company in the world. Moreover, the rise in the global market share of the company is exponential. It falls under the star quadrant. The company has sold more than 1.3 billion iPhones since 2007.
It is the product of the company with declines need in the market and also reduced competition. There is no doubt that this product has reached the saturation level, but still, it falls in the cash-cow quadrant from which the company can’t make any more money. It’s time to harvest the crop and invest in the other three quadrants,iPhone, MacBook and iPod.
To back this notion, I would give an example, TV channels. It is the era of the internet. People in the 21st century prefer to be in front of the YouTube screen rather than TV screens. Around 4.6 billion people will be using the internet till 2021. They would have easy access to Gmail, make an online payment, use digital media. So, instead of keeping up with times, the strategy should be moving far ahead of time and preparing for the upcoming trends before they become a routine. If the leading TV channels would stick into this traditional practice of broadcasting their shows only on TV, then there would not be any future of the channel. Surviving, in the long run, would become hard because of the internet age. The same goes with the tech companies across the globe. They need to strategize accordingly.