Apple Overview: Apple Inc. Is currently the world’s most valuable company at over $500 billion as a result of a “user-centric fast follower” business and marketing strategy . Apple has not pioneered completely new-to-the-world products but excels as an innovator of key technologies in growth markets . Apple’s success stems from its Leapfrog Strategy of improving/enhancing its own products based on the mistakes of market pioneers (Walker & Mullions, 2011).
With the 2007 release, the phone’s sleeker design and innovative software improved some overall functionality of the product compared to existing smart phones in the market. The phone did not incorporate 36 technology and the camera offered only 2-megalopolis when other companies offered up to 5- megalopolis. Nevertheless, improvements over existing technologies resulted in Apple obtaining a share of the mobile phone market over established competitors like Monika and Motorola. Although Apple has been successful as a user-centric fast follower, it’s had to overcome some mistakes, including the company’s U.
Need essay sample on Challenges Entering the Growth Market ?We will write a custom essay samplespecifically for you for only $13.90/pageorder now
A Changeable marketing survey in February, 2008 indicated 72% of customers were satisfied after purchasing phones; 17% planned to purchase phones within 6 months . European phone Apple partnered with T-Mobile in Germany, Orange in France, and 02 in the UK with revenue sharing as it had done in the U. S. With AT. Consumers in these markets were used to subsidized phones but the phone was not subsidized; in less than a year both 02 (37% reduction) and T-mobile (75% reduction) slashed phone rises (Schooner, 2008).
Consumers were also accustomed to using their phone with any carrier of their choice. Apple faced legal issues in Europe regarding laws preventing companies Joining with partners and forcing customers to buy one product to get the other. Results were a major Jolt to Apple’s global strategy of tying 36 capabilities, high price and carrier exclusivity contributed to mixed results in the European markets. Apple’s attempt to enter the market seems initially ill-conceived and poorly researched.