Global Economic Environment and Marketing Assignment
Added on 2020-04-15
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Running head: Global economic environment and marketing Global economic environment and marketing
Global economic environment and marketing Table of ContentsIntroduction.................................................................................................................................................3Apple strategies for sustainable competitive advantage...............................................................................3Impact of the company’s strategies on consumer behavior..........................................................................7Macro environment of the Apple.................................................................................................................8Conclusion.................................................................................................................................................10References.................................................................................................................................................112
Global economic environment and marketing Introduction The report talks about the global economic environment and marketing of the Apple Inc. Apple Inc. has been taken in the report to explain the business operations and activities of the firm. It tells that how the company is using strategies to gain various competitive advantages across the world. It describes the macro environment of the Apple. It depicts the impact of the Apple strategies on the consumer behavior. Along with this, it explains the marketing theory of the company. It also explains the mission and vision of the company. It tells that how the company can meet its long term goals and objectives by maintaining sustainability in the environment. Apple Inc is an American global technology corporation with its headquarter is located inthe California United States. The company deals with various products such as iPod, iPhone, Apple watch, home Pod, Mac, Apple TV, software and electronic vehicles. Apple is one of the biggest information technology corporation measured by the revenue (Van Hout, Maat & De Preter, 2011). It is the second biggest mobile phone manufacturer company after Samsung. Thereare approx 123,000 employees are employed in the company. In today’s era, the company is increasing and expanding its operating income and profit of the company. The firm was founded on 1st April 1976 by Steve Jobs, Ronald Wayne, and Steve Wozniak. In today’s world, the company is enjoying a high level of brand loyalty in the market. Apple was the first product of the company (Heracleous, 2013). Corporate level strategies and business generic strategies are used by the company to generate more revenue in the competitive environment. Apart from this, the company maintains sustainable human resource management to appoint potential and competent employees around the world. Apple strategies for sustainable competitive advantage Apple is one of the biggest leaders in the world. The company uses intensive growth strategies and generic strategies around the world to gain various competitive advantages in the market. There are various competitors of the company that includes Nokia, Blackberry, Sony, Palm, and Motorola. The company can use various strategies to overcome the competitors across3
Global economic environment and marketing the world. The strategies’ of Apple Inc. have been discussed below (Baroto, Abdullah & Wan, 2012). Apple’s generic strategy: This strategy is based on the porter model. It is the broad differentiation strategy which focuses and monitors on the competitor's products and services globally. Through this strategy, the company is able to stand out in the global market. The main aim of this strategy is to set the prices of the products to differentiate its products from the competitor’s products. The firm can obtain its long-term goals and objectives by using this strategy in the market. This strategy also helps to maintain leadership and goodwill worldwide. By using generic strategy, the company is able to attract more customers across the world. Appleshould develop and build innovative products so that the company always stands out from the competitors around the world. Along with this, Apple must explore and expand its trading activities and operations in the world. In this way, the firm can meet its long-term mission and vision of the firm across the world (Morgan & Rego, 2009). Intensive growth strategies: Apple uses intensive growth strategies to overcome the competitors worldwide. The intensive growth strategies include the following: A.Product development: It is the foremost and important intensive growth strategy of the company. Under this strategy, Apple Inc. should provide attractive and dynamic productsto the customers to increase the revenue and growth of the company. This strategy is related to the mission statement as well as vision statement of the company. Through this strategy, Apple develops and launches new products for the new and innovative mobile market. In this way, it helps to increase the profits of the company to beat the competitorsglobally. B.Market penetration: It is the significant strategy of the intensive growth strategy. Underthis strategy, the company is trying to acquire large market share by selling the effective products of the firm. Along with this, the company uses effective and unique promotion and advertisement strategies to attain the long-term success and growth of the Apple. Through this strategy, the company is able to reach in the entire market segments around the world (Danciu, 2010). C.Market development: It is the important strategy of the intensive growth strategies across the world. This strategy focuses and monitors on the new and competitors products4
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