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As one of the most valuable companies in the world, Apple shows that its generic strategy is a major determinant of advantage against other firms like LG, Samsung, and BlackBerry.
With a high rate of innovation and emphasis on excellence in product design, Apple succeeds even with its relatively high selling prices. This generic strategy focuses on key features that differentiate the company and its products from competitors.
Through the broad differentiation generic strategy, Apple stands out in the market. For example, emphasis on elegant design combined user-friendliness and high-end branding effectively differentiate the company. The broad differentiation generic strategy means that Apple always aims to set itself apart from competitors not by price but by other key features beneficial to customers. These key features include seamless connectivity among devices and cutting-edge aesthetics in design.
Even though this generic strategy makes Apple stand out, the company still broadly reaches various segments of the market. For example, Apple reaches to individuals and business organizations through the MacBook product line. In this way, the generic strategy of broad differentiation supports the company in maintaining its leadership and position as a high-end and high-value business.
For example, to effectively apply this generic strategy, the company must continue emphasizing innovation through research and development. Apple must continually develop innovative products so that the firm always stands out against competitors. Competitors eventually catch up with new products, so the broad differentiation generic strategy compels Apple to always innovate to keep itself always ahead of competitors.
In addition, the company must ensure that it keeps expanding its market reach. In this generic strategy, Apple does not focus on any specific market segment. The firm competes in all market segments with other players in the industry. Such expansion and business growth are achieved through intensive strategies for growth. Apple uses product development as its main intensive strategy for growth. Product development requires that the company must offer attractive products to grow its market share and performance.
Apple implements this intensive growth strategy through innovation in its research and development processes. Through this intensive growth strategy, Apple views innovation as a critical success factor.
For example, the company continues to innovate through products like iPhone, iPad, and Apple Watch. In this intensive growth strategy, the firm also develops new products for the mobile market.
Apple grows because new products and models allow the firm to generate more revenues. Apple uses market penetration as its second most significant intensive strategy for growth. For example, Apple applies this intensive strategy by selling more iPhones and iPads to its current target markets. In particular, the firm achieves more sales by adding more authorized sellers in its current markets.
This approach is important in penetrating markets where Apple has not yet achieved a significant position. Also, under the market penetration intensive growth strategy, Apple uses promotion through various websites and media outlets.
For example, advertisements encourage more people to buy Apple products. By selling more current products to more customers in current markets, this intensive strategy enables Apple to reach customers in all market segments.
Apple uses market development as the least significant of its intensive strategies for growth. Market development involves creating new markets for new products or entering entirely new markets.
This intensive growth strategy is similar to market penetration, but market development focuses on establishing presence in new markets. Apple applies this intensive growth strategy by authorizing new sellers in markets where the company does not have any presence yet.
Thus, this intensive strategy applies mainly in developing markets. Also, Apple implements the market development intensive growth strategy through novel products. For example, the company innovates to offer goods like Apple Watch, which is an entirely new product line for the firm. Through Apple Watch, the company develops its reach in the smartwatch market. Such generic strategy requires that unique products should be offered to different market segments, which the company reaches through market development.
Market penetration and market development are second and third in priority, respectively. The firm is strong in product development through innovation. However, to improve performance, the company should emphasize more on market penetration and market development.