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Mkt 421 Week 3 Strategic Management And Strategic Competitiveness

1362 Words6 Pages

Week 3 - Strategic Management and Strategic Competitiveness Assignment Apple Inc. is a technology company that is known for its consumer electronics products such as iPhones, iPads, and Mac computers. Apple is one of the world's most valuable companies and is known for its innovative consumer electronics, software, and digital services. Globalization Globalization and technological changes have impacted Apple in various ways. For instance, globalization has allowed this company to establish a complex and comprehensive supply chain. Elements for Apple's products are sourced from different nations, thereby taking advantage of cost efficiencies as well as specialized manufacturing capabilities. Thus, the global chain of supply has enabled this …show more content…

The company has attained a strong market position within the technology industry, especially within the premium smartphone and smartwatch components. This dominance regarding the company has allowed it to command or calculate premium pricing and have a competitive edge in the market as well as customer loyalty. Furthermore, the company's brand is globally recognized and linked with quality, innovation, and a seamless user experience. This translates to a competitive edge permitting the firm to maintain premium pricing and fends off its rivals within the market. Apple's concentration on design and user experience makes its products apart from other rivals (Hitt et al, 1). The firm's ecosystem, which comprises hardware, software, and services, improves client retention and enhances cross-selling …show more content…

Because of this, the company heavily invests in development and research to develop products that properly resonate with customers. Therefore, these customer-centric strategies have assisted the company in staying ahead of its rivals and also maintaining a loyal client base in the technology industry (Lan, 3). The mission statement of the company also places a strong emphasis on serving educators, students, and other creative experts which has influenced the service offerings and products of this company. Therefore, the company's mission statement stresses its commitment and dedication to offering the best individualized computing experience while the vision statement also highlights its key products and other technological innovations. Altogether, these statements guide the firm's strategic direction, marketing position as well as product development. By continuously striving or aiming to fulfill its mission and focusing on major services and products, the company has attained immense success such as market leadership, strong brand recognition, and a strong base of customers (Hitt et al, 1). The clarity offered by this statement assists in aligning the company's pursuit regarding its vision, thereby leading to general achievement within the technology

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