SWOT Analysis of Apple:
Being number 1 in the market as leader, Apple has more strengths than weaknesses. And at a similar time, the threats against Apple are rising as a result of it's clearly within the target microwave radar of lots of firms. The SWOT analysis of Apple presents the analysis of this innovative company and the reason why it's a market leader in technology.
Let us discuss the SWOT analysis of Apple as an amazing organization:
Strengths of Apple Inc in swot:
Innovative in everything Apple does – Major strength of Apple offerings has been its unparalleled technology driven products. Apple as a brand launched at first, it's MacBook, then the iPod, the Iphone, the Ipad, the Iwatch. In short, Apple has lined nearly everything that his focused market audience “desires”.
Leads with example:
As per Wikipedia, Apple is the only technology company in Forbes 10 most valued companies in 2017 with a rank of 9th, which clocked revenue of 216 Billion. It become the primary North American company to cross 700 billion greenbacks and in 2014 was the biggest publicly listed company within the world. If that doesn't outline leadership, then nothing else can. Apple is much ahead within the leadership game as it always know to set industry benchmark.
Brand equity of Apple:
It is no surprise that apple is all about brand and the way it's been perceived by it's customers !! With consistency in excellence and technology Apple has created a huge Brand Equity which is hard to beat for any competitors at least in the near future.
Style & Technology:
The most effective a part of Apple, and also the reason for its furious brand equity is its style likewise because the technology it uses. Apple has continuously been suave and chic in its product style. And at a similar time, to a lower place this exquisite style could be a machine battery-powered to present final performance. All this runs on the MacOS that is another software package better-known for its potency. It's still the only player with % authority of its product parts and OS which makes it stand out in all aspects of customer satisfaction.
Apple has more than 500 own stores across 20+ countries. Besides these stores, it sells through trade partners, on-line channels likewise as through different premium retail stores. coming into AN Apple owned outlet could be a fantastic experience, Apple additionally launched the Apple genius bar to directly solve client problems at intervals the outlet itself. Thus, the concentration of Apple on its sales and repair distribution is famous.
Apple as a brand is synonymous with the name Steve jobs – key factor till today his name makes the way and inspire apple as a premium brand. he's a concept to all or any marketers within the means that he junction rectifier his own individuals and also the means he had carried his life and also the whole Apple at the side of him. Since 2011 till his departure from this world.
Fly High Margins:
We often rogues strategies and means to garner high margins if one needs to command high margins at scale Apple case study is handy at any point in time. Being a technological leader with huge brand equity, Apple keeps a hefty margin for itself to paddle hard underwaters (in R&D) and throws up brilliant products with calm. (Just like duck) .
Target customer focused:
Apple continuously develops its offerings with attention on customers whereas keeping their mind within the future. They continuously try and imagine the items that even the buyer has not fanciful nevertheless. This is unique as a premium product Apple not only pushes itself with new features and products every year but imagine it reads the next most lovable feature within its target customers. This takes tremendous focus on your customer needs and behaviours.
Weaknesses of Apple Inc in swot:
With an organization that could be a market leader and innovative, we will expect only a few weaknesses. Still, here are three weaknesses that Apple could be facing or thriving hard to beat them by itself.
Access to Technology:
Being a number one company since 1980’s Apple incorporates a major market share and also the shopper expectation goes through the roof. individuals expect nice things from apple year after year and maintaining these expectation levels isn't simple for anyone. Till date it did exceeded the expectations and stays relevant with rapid change and access to new and quick technologies, Apple sooner or later needs to reinvent itself.
Add-on and Ease of Use:
A key issue in Apple as an organization is that a lot of its merchandise are incompatible with third-party software package / accessories. More so when the growth prospects are high in emerging economies for Apple, same time shelling out money on every add-on app is not the habit of masses in emerging world population.
Narrow product range:
Apple has just 9-10 products in its portfolio as compared to the assorted merchandise that its nighest competitors Microsoft and Google have. therefore, the dependency of Apple on every of its merchandise is incredibly high. If one product fails, then that's a tenth loss to Apple as these are babies of multibillion R&D investments. Hence, there's a typical demand from Apple to extend its product portfolio.
Opportunities for Apple Inc in swot:
Giants like Facebook are increasing their offerings with Instagram, WhatsApp etc and Google muscling its hand in alternative businesses, Apple needs to figure out some new connected areas of future growth. Apple is currently fixated on Apple automobile that is meant to be launched in 2020. like all different product of Apple, we will expect nice things from the Apple automobile likewise let's wait and see. With the emergence of EV's and self-driven cars Apple journey seems to be exciting and challenging.
Technology is always most relevant in present and changes with rapid speed, when it comes to computing Apple leads this race with huge GAP. we shall expect far more advanced MacBook’s, iPhone, iPad and I watches within the coming back years. How AI , IoT & ML are going to be used to enhance customer experience from industry major is worth debating ?
Apple could be a growing company in a very growing market. Equally vital to the corporate is that the rising GDP of developing countries, thereby increasing consumption of such premium brands like Apple. Any company that is growing desires a bigger market base and also the market base is slowly being designed via territory enlargement for Apple.
IWatch and Apple TV:
The two products which shall increase the presence even more are iWatch and Apple TV, each these are geared toward the long run, for once the digital presence will increase. Apple iWatch is a market leader already in North America.
Threats for Apple Inc in swot:
Apple as an organization doesn't have any threat we can fairly say that when we study past product launches and outcomes. however, as product range, most of the offerings are facing sturdy threats from the competition. Being premium is fast becoming a threat from new aged affordable premium brands. And as we said earlier access to superior technology is no more anyone's patent we are living in a most robust and connected world of our times.
Design & Price:
Key threat to Apple is the penetration by different brands across price range is the Smartphone market. Growing demand for high quality smartphones is a reality still looks and pricing has its own sweet spot where apple may face a stiff competition in coming years.
Finally, if one digs into Apple products and key differentiation it has always been Design, Speed and Brand Equity. If you look around the new launches from different brands at least 2 out of 3 major Apple differentiations have been inculcated by other brands to give users Speed and Design.
As always technology times are always exciting and pushes all of us to learn and innovate.