Inquiry Based Learning of Apple: Trends in Retail Industry and Recommendations
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Added on  2022/12/27
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This report is based on the inquiry based learning of Apple, focusing on the current trends in the retail industry and their impact on the company. It includes an analysis of the retail industry, background of Apple, primary investigation, and recommendations for the company's business and financial performance.
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Table of Contents INTRODUCTION..........................................................................................................................3 MAIN BODY...................................................................................................................................3 Trends in retail industry..............................................................................................................3 Background of Apple..................................................................................................................3 Analysis.......................................................................................................................................4 Primary investigation..................................................................................................................6 Recommendations............................................................................................................................6 CONCLUSION..............................................................................................................................7 REFERNCES:..................................................................................................................................9 Books and Journals:....................................................................................................................9
INTRODUCTION Inquiry based learning is a kind of active learning where the individual asks questions or study scenarios to gain understanding and conclude result. The report is based on inquiry based learning of Apple. It is an American multinational company(Yang And et. al., 2020). The company was founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The report discusses about current trends in retain industry and its impact on Apple. Primary and secondary research is done to gain more understanding about the company. At the end of the report there are recommendations. MAIN BODY Trends in retail industry The retail industry is at boom. The market attractiveness in this sector is high and many new players have entered retain industry. There is benefit that these organisation under retail sector are using is that of going international. That enhance the opportunities that are present for them. They can trade with various countries. They have also captured huge customer groups that are assisting them in gaining profits. It is seen that customers to but from retail stores. They provide convenient structure to the stores that is preferred by the customers. There focus is to present everything they have in store. Most of sale these business do is through these retail stores. Revenue is at hike and they are providing quality products and services to the customers. In relation to Apple they provide free email access. The success also depends on the innovative ideas used by them to present the product and services. There is personal relation in retain stores that attract customers and help to develop loyal customers. Background of Apple The company was founded 44 years back in 1976 by Steve Jobs, Ronald Wayne and Steve Wozniak. It is one of the Big Five companies in U.S. In the information technology industry, along with Google, Amazon,Facebook and Microsoft. It has its operations in more than 500 retail stores. Apple employees around 123000 employees all around the globe. The company provides its services to all countries. The headquarters of company are in Cupertino, California, USA. The main products that are offered by Apple are Products iPod, iPhone, Macintosh, iPad, Apple TV, HomePod, Apple Watch,macOS, iOS, tvOS, iLife, watchOS, iWork, Final Cut Pro, Garageband, Logic Pro and iMovie(Schmid and Bogner, 2019). The
company is able successful operate sell all its product. It has gained a power full position in the market. Along with that the services provided by Apple are Apple Pay, iTunes Store, Apple Store, App Store, iBooks Store, iCloud, Mac App Store and Apple Music. All these have helped to stand out in the market. Apple follows Corporate Steering Wheel. This model aims to formulate all the plans and objectives in support of mission of the organisation. The focus is to make all the individuals that are working in the organisation work towards a common goal. All the pros and cons that are analysed so that the company do not face any problem in future. All the policies should be regularly updated so that there are no confusion in the end. Incan be seen that this helps to achieve goals and objectives on time. The main four points thata re being covered the Steering Wheel are customer, operations, finance and people. It is vital for an organisation to focus on all of them. As the success of an organisation depends on the services provided to all the parties that are related to the organisation(Puddu, 2017). Finance is backbone of every organisation and it is important to manage finances so that company is able to work smoothly. A proper research to customers’ needs and wants will help the company to satisfy their needs and wants in an effective manner. This model helps Apple to operate smoothly by taking care of all the important parts on which hr success of the organisation depends. Aim of the report To analyse the impact of current trends in retail industry on business and financial performance of organisation. A study on Apple Company Research Question How to analyse the financial performance of Apple. Analysis SWOT Analysis of Apple Strengths Apple is known as leading technology innovatorasthecompanylaunches new product that have latest design, enhancedpredecessor.Thecompany has positioned the products above the lone and captured market share. Weaknesses Thefirstandforemostweaknessof Apple is its high price. The company launches the products at higher prices. Noteverycanaffordtheproducts offeredbyApple(Peláez-Ruiz,and
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ď‚·Italwaysstudiesthetrendand innovatestheproductasperthe requirementofcustomers.The companyalwaysmakerightuseof technology and provide new product to its customers(Pang, 2016). ď‚·Apple has gained a strong image in market and has been ranked third most valuable brand in 2020. Piedrahita-Ospina, 2017,). ď‚·Anotherproblemassociatedwith products of Apple company is that they have different operating system. People are incompatible with iOS. ď‚·AppleCompanymostlydependson Phones and iPad series. If the sale of theseproductdeclinesthecompany may lose its market share and face huge losses. Opportunities ď‚·The biggest advantage that Apple has is of loyal customers. The customers that buy products of Apple are satisfied and loyal towards the brand. That they don't want to switch to another brand. ď‚·The cloud based services are also in demand.Astheuseofdata connectivity and speed is rising more people are utilizing the cloud services offered by the company. Weaknesses ď‚·Asthecompanydealsinconsumer electronics and the trend in changing day by day. The company has to go with the trend and update the product accordingly. ď‚·The biggest threat faces by company is fromotheroperatingsystem.The companyisfacingcompetitionfrom growth of Android. Porter Five Forces Model On Apple The model helps to identify the competitiveness in the industry and strategies to gain competitive advantage. The Porter Five forces Model in respect to Apple Company is mentioned below: Competitive Rivalry-Competition is present at every level. In relation to Apple Company it has to face direct competition with Google, Samsung, and Amazon. All these companies invest money in research same is done by Apple(Levitov, 2016). It can be said that there is industry competitiveness faced by Apple.
Bargaining Power of Buyers-Consumers are important part of an organisation. Every company makes efforts to serve its customers. If the bargaining power of customers is low then it is beneficial for the company. In a relation to Apple the Company has high bargaining power of consumers. As there is low switching cost customers of Apple can switch the brand. So Apple has to make strategies that help them to gain competitive advantage and retain customers. Bargaining Power of Sellers-The bargaining power of suppliers shows the dependence of company on the suppliers. In respect to Apple Company the bargaining power of suppliers is relatively low(Herranen and et. al., 2019). It is beneficial for the company as they do not have to depend of suppliers. There are various suppliers that are available to the company. Threat of New Entrants-There is moderate threat of new entrants in case of Apple. As there is need of huge capital to start a new business. In context of Apple it has established a brand image in market over time. It is difficulty for new entrant to obtain the position and fight in competition. Threat from Substitute products-Apple uses technology and provides products and services that are different from the competitors(Heng.and Karpudewan, 2017). There is no direct substitute available to the company. Also the similar products that are offered by various companies are of low quality. This shows there is low threat of substitute products in case of Apple. Above mentioned is Porter five forces model that helps company to formulate strategies to gain competitive advantage. It is also helps to know about the value in respect to competitors. It is important to establish brand value as it helps to gain profits more than competitors. Primary investigation Primary investigation means collecting data for the first time. Under primary research data is directly collected from the main sources. It is done through questionnaire, experiments, interviews, surveys etc. In this case questions are being asked from various stake holders of apple. To understand and analyse what are their view points. Fresh and true information is gathered through primary investigation. Recommendations Apple has established a powerful position in the market. The main problem is that the price of products offered by the company is not affordable by every one. The company should
CONCLUSION It can be concluded that it is important to study about a topic and then conclude. This report is based on Apple which is considered under big five. The company has global presence and serve its customers with quality products and services. The retail industry is at boom and that is advantageous for Apple. SWOT Analysis of company is done to understand the strengths and opportunities and get benefit. The weakness should be worked upon and it is vital to know about the threats and get prepared. The Porter five Forces Model is part of the report to understand the competitiveness in the industry. This also helps to formulate strategies. In the end of the report various recommendations are given.