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Marketing and brand innovation: Apple Inc. case - Assignment Example

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Marketing and brand innovation: Apple Inc. case

This research will begin with the statement that innovation does not only constitute technically invented services and products but consists of cultural, social and economic aspects as well. Innovation has evolved over age. During earlier days innovation was usually a one-way pipeline. However, as a result of the new complexities and the whole new concept of innovation and creativity, innovation in today’s world is cross disciplinary which means innovation can be both forward and backward. Also, feedback has become an important aspect of the innovation process. In the present case study, Apple used CIM or Cyclic Innovation Model for market and product oriented transactions so that the consumers can find the products and services exactly where they want. In the Cyclic Innovation Model, innovation can initiate anywhere. Change is inevitable and everything is constantly changing, backed by innovation. This is the basic principle of Cyclic Innovation Model. It can also be described as a technology-push method. For example, iTunes was invented by Apple Inc. in the year January 2001 and consumers started using this software for storing films and music. There was an opportunity for marketing portable music player which was tapped by Apple Inc. In order to utilize this opportunity, Apple Inc. conducted an extensive market research and finally developed the iPod where consumers are able to access music files with the help of internet and even store them. iTunes became an invaluable link between services and products, identifying exactly what customers want....
In order to tap the market of music followers, the organization opted for channel innovation such as unique agreements with various music companies and providing creative store experiences to the consumers (Berkhout, Hartmann and Trott, 2010). The strategy for business innovation was Apple’s strong pricing and various partnerships with suppliers and tertiary service providers. The scientific research part of the innovation cycle was performed by data collection methods. It was also known as insights innovation where huge quantity of mobile data was flowing from consumers to the marketer. The differentiated service cycle was completed by marketing and brand innovation (Trott, 2012). Here, brand experience was inspirational and consumer used to wait for days before launch of new product and services. Many competitors still criticize Apple Inc. for introducing iPods at a low price even with huge number of innovative features. However, majority of them have been unable to provide a holistic product of their own and failed trying to replicate the service ecosystem that Apple has created with the help of Cyclic Innovation Model. Answer 2 Apple Inc. has seen a spectacular growth in its MP3 segment since 2003. However, fierce competition from all segments in the industry is giving a tough time to the company. Apple falls in consumer hardware and software industry, selling everything from PCs, laptops, mobiles, music and a host of consumer hardware. Thus, the risk of losing market share is from everywhere, especially when other organizations are able to access the technology. Loss of market share due to supplementary products such as music systems incorporated in mobiles is also huge. In the wake of these recent changes in the market, Apple ...Show more

Summary

This research is being carried out to evaluate and present marketing and brand innovation using Apple Inc. as an example. In the present business environment competition is certain and only organizations with definite goals are able to survive.

Author : hstroman
Marketing and brand innovation: Apple Inc. case essay example
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