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Opportunities: Canada's Second Most Influential Brand

1472 Words6 Pages

Opportunities Being Canada’s second most influential brand in 2015 and ranking in the top 5 since 2011, greatly reinforces the fact that Apple is one of the most innovative and dominant company existing today. Having survived immense competition from other companies such as Microsoft and Samsung really goes to prove that the simple yet timeless products Apple put out are worthy. According to designer Jonathan Ive, Apple prides themselves on not putting out a new idea unless it’s better than its predecessors (Bajarin, 2012). Therefore, due to the ever growing technology the launching of Apple Pay is welcomed by a significant amount of opportunities. Thanks to the new technology being developed on a daily basis, Apple Pay provides many opportunities …show more content…

Due to the fact that Apple has been such a successful company across the globe, and since individuals are able to acquire an Apple smartphone in a significant amount of countries, the incorporation of Apple Pay automatically makes it a candidate for a new international trend. Since Apple’s greatest competitions such as Samsung don’t have a similar application as of yet, the new idea of safe digital wallets could be becoming Apple’s contributing factor towards its own significant international growth. The international collaboration with banks such as Bank of Shanghai in China, Bank of Scotland in the United Kingdom and the numerous others not only allows Apple for rapid growth in an unsettled region by smartphones before, but it creates a very tall barrier for other smartphone companies due to their non-existing similar applications (Apple Pay participating, n.d.). This is a perfect example of how the fragmented international market of such applications allows Apple Pay to both develop and enter into a larger market …show more content…

Near field communication technology is a mandatory element for Apple pay to be usable. The reason as to why banks aren’t installing NFC technology to their current operating systems is that NFC is expensive. Installing NFC technology requires a huge overhaul in the banks ecosystem, they must change the protocols they currently use to match the protocols required for NFC. This means making changes to the banks suppliers and partners including Trusted service managers (manufacturers of the banks debt and credit cards) and Mobile network operators (MNOs). All of this inconvenience isn’t even worth the banks resources, even though NFC technology does give banks a competitive advantage over other banks. If banks don’t have plans on installing NFC technology then the Apple pay service is useless. Once again Apple faces another barrier to gain traction on people using Apple pay as it isn’t even available at all bank

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Roots Canada's Marketing Strategy

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