BUS 640 Week 6 Final Paper
BUS 640 Managerial Economics
Apple Inc. (AAPL.O)
Apple Inc. commonly known as Apple has effectively managed to be a successful company in a very competitive consumer electronics industry by been innovative and differentiating the company’s products with similar products in the markets by offering high quality products and good customer service while the actual manufacturing of the products is outsourced to trusted third party suppliers. On a wider perspective, the company has set high standards that even the company itself has to be on its level best to maintain the standards that it has set. Over the last few years, the consumer electronics market has …show more content…
During the Steve Jobs era, outsiders speculated about each new release of a major product, trying to read the founder’s public comments. But Jobs was notoriously stingy with the press. Analysts had to spy on suppliers and the carriers that eventually would market the devices. Now the world at Apple Inc. has changed. Everyone knows what Apple Inc.’s new iPhones will look like and do. Nearly everyone knows what their eventual markets will be. Among the things that have made Apple ordinary, one of the most significant is its product releases. One of Apple’s problems has been widely identified. Other companies can and are releasing exciting products.
Apple competes in three different fronts, the computer industry, handset industry and the music industry. Apple relies on its innovative design team to design and create the various operating system and hardware that differentiate the company’s products with the products offered by the competitors. The company’s apparent quality means that the company is able to charge high prices for its products while compared to equivalent products by the competitors. During the last few years, Microsoft and Google who are some of Apple’s biggest competitors have developed products that can be argued to be in response to Apple’s innovative products. Google’s Android platform was developed to directly compete with Apple’s iOS platform that runs through all the iPhones