Apple is an American based technology company that develops, designs and sell electronics, software and several services to consumers. Apple is one of the most well-known and successful brands in the world.
Famous for their well-known products, iPhone, iPad, Mac computers and their newer product Apple Watch. Apple was created by Steve Jobs; he is known as a pioneer in the tech industry when he founded Apple back in 1976.
Product mix. This element is the output of the business organization. Apple’s products are tangible technological devices that provide several everyday-life services. Apple also stands for a lot of intangible services they supply their consumers with. A popular one is iCloud which is used to store data onto a digital platform, so it is never lost physically.
They also introduced Apple pay making the everyday tasks for their consumers even easier allowing them to pay on the go with their Apple devices.
Their products have stayed ‘’in’’ the market, as they were some of the first movers on the wireless telephone and have continuedly developed and improved their products with fascinating new features and smart technology every year.
Price & Pricing strategy for Apple Inc. Apple are known for their high quality and technological advancements but you certainly also pay the price. Apple use the premium pricing strategy and so they only offer premium products. The premium pricing strategy maximizes the profit margins for Apple Inc.
Compared to their competitors Apple phones are usually higher priced than Samsung phones or Huawei phones for example. Taking the SWOT-Analysis in perspective this would seem as a weakness BUT Apple excel at branding these products as ‘’Premium’’ making them more valuable for the consumer.
With genius innovation Apple stay competitive despite the premium prices. Consumers are simply willing to pay hundreds of USD extra for the Apple product.