Executive Summary

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Introduction

Apple is an iconic brand and due to the production of quality gadget and software. The strong brand image has made it easier for the company to introduce new products in the market. Just like any other technology-based company it faces the challenge of a dynamic market.

Executive summary

The company has clearly outlined goals in its strategic plan. One of the goal is to differentiate the products and the company from the competitors. To achieve this the company has put in place a comprehensive budget. This budget is to aid in the allocation of resources, setting out priorities and mitigating risks. It has allocated $320 million annually that will cater for liquid metal technologies. These technologies will differentiate apple product in the market in that they will attain uniformity in cases of their gadgets. Put in place advanced antennas for the iPhones and the instalment of holographic logos. This logo helps the customer to differentiate Apple products from the counter fit. Logos will help differentiate the product from other counter fits. It has also an annual budget of $260,000,000 to purchase advanced machines that will the production of distinguished top notch products (Brüggen, 2015).

To differentiate the product there is need for innovation this is aimed at meeting the dynamic lifestyle needs of the consumer. The company needs an able workforce that is intelligent and flexible. The employees need to carry out in-depth research to aid product development. They need to realize the importance of teamwork and interdependence foster cohesiveness and aid specialization (Wisse, 2015). This will, in turn, result in the efficiency and delivery of quality products. The flexibility of the employees enables the company to cope with the dynamic market. The company needs to offer proper remunerations and benefits to attract and retain qualified personnel.

To differentiate the company from the competitors it is important to create a relationship with its customers to enhance loyalty. The establishment of live chatting websites gives personalized services to the customers and they feel valued (Kaura, 2015). The company will increase the number of outlet stores that retail its products to increase their availability in the market. The use of mobile payment method will increase customer shopping experience as it is fast and convenient in that goods are delivered. The availability of hire purchase will increase the consumer base as one can pay on instalment.

From the research, it is clear that a good number of people do not have a clear understanding of what features do differentiate the apple products from the competitors. A good number of people who were offered a chance to use the Apple products did buy them as they offer an experience that is best felt rather than explained. Many people did not know of the availability of hire-purchase payment method hence the product does not target only the high-end market but all.

Differentiating the products and the company will enable it to retain its recognition in the market, satisfy its customers and increase its market base. This is the main reasoning behind the goal.

The major obstacle is having a large recurring expenditure. A lot of the company’s profit will be spent on salaries and the purchase of modern machines. Though these two will help in the company in its expansion plan by delivering quality products. This two represent a portion of the company’s expansion plan and a lot of resources are needed to address that.

References Brüggen, A. &. (2015). Cost estimates, cost overruns, and project continuation decisions. The Accounting Review, 91(3), 793-810. Goevert, K. B. (2019). Integration of Mechatronic Product Development Methods in an Agile Development Area. In Research into Design for a Connected World, pp. 119-131). Haas, A. L. (2016). . Building Initial Relationships: The Emerging Tasks of Sales in New Business Development. In Thriving in a New World Economy. (pp. 2-5). Kaura, V., Durga Prasad, C. S., & Sharma, S. (2015). Service quality, service convenience, price and fairness, customer loyalty, and the mediating role of customer satisfaction. International Journal of Bank Marketing, 33(4), 404-422. Khan, U. A. (2015). A critical analysis of the internal and external environment of Apple Inc. International Journal of Economics, Commerce and Management, 3(6), 955-961. Kim, J. M. (2017). Integer-valued GARCH processes for Apple technology analysis. Industrial Management & Data Systems, 117(10), 2381-2399. Wisse, B. B. (2015). How innovative is your employee? The role of employee and supervisor Dark Triad personality traits in supervisor perceptions of employee innovative behavior. Personality and Individual Differences, 82, 158-162.