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Apple innovation and strategy - Essay Example

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Masters
Essay
Marketing
Pages 12 (3012 words)

Summary

This research paper explains the theoretical underpinning of innovation as a strategy and details how this can be used as an effective tool to achieve competitive advantages, based on the innovation and strategy experiences of Apple Inc. …

Extract of sample
Apple innovation and strategy

The intention of this study is innovation as fundamental prerequisite for competitiveness and economic well-being. In major industries, to innovate has almost become less risky and since both consumer and industrial markets have come to expect regular changes and improvements in the products, most firms find it profitable to make innovation their grand strategy. Apple Inc., the American Multinational company that was established by Steve Jobs, Steve Wozniak, and Ronald Wayne in the 1970s, has emerged as one of the most successful Fortune 500 companies; and perhaps the best known for innovation. It designed, manufactured and marketed personal computers, portable music players, software, computer peripherals and a number of different kinds of electronic products, through its own retail stores, online stores and sales force or third party sellers. Apple Inc. has been able to create and establish a strong brand name for the company through a number of strategic and innovative steps such as Macintosh, iPod, iPad, iMusic, iTunes, iPhone etc. As Kerin, Hartley and Berkowitz pointed, Apple Inc. has always been thriving on innovation. Its history showed that it has ignited the personal computer revolution during 1970s with Apple II, and it reinvented the personal computers in 1980s and gaining a brand loyalty with iMac in 1990s. It has alter been able to discover increased opportunities through iPod, Apple iPhone and 3-G iPhone in recent years. ...
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