Marketing audit refers to the systematic analysis and interpretation of the marketing environment both internally and externally. The study entails accessing the problems and opportunities in the market functions. In this marking audit, I selected Apple Company because there are various problems the company has experienced to achieve its success. In the SWOT analysis, the strengths of the company are identified, weaknesses, opportunities, and threats. Besides, the papers also conduct a PESTLE analysis for Apple Company.
Apple SWOT Analysis
Innovative products, the company has been presenting quality products from time to time in its products line up. Like the MacBook, iPod, iPhone. Design and technology are substantial brand equity is fantastic and best because of the design and technology it uses. The model is also powered to ensure ultimate performance (Omer, 2019). On distribution, the company has 470 stores across 17 countries whereby it is in a position to sell its products through channels, and other trade partners. Consumer focus, different designs of products always focus on its customers as well as in the future. They ensure consumer satisfaction. Brand equity is highly valued amongst other companies. This brand equity has helped it be the best in the world (Omer, 2019).
Incompatibility, the accessories for most products are incompatible. This means once you buy its merchandise, you may enter into its universe and hence affecting the decision making of the consumers (Omer, 2019). Few products, Apple Company, has few products in its portfolio, therefore, making popular demand to increase the product portfolio. The prices for its products are too high, and this makes the products affordable to fewer customers.
Apple Company has been able to produce a variety of products, for instance, Phones and TVs. The two products have increased their significance with the fact that they are aimed at future demands (Omer, 2019). Therefore, they act as an opportunity in the company. A growing market is another opportunity because it exists within an increasing demand, and this equals importance in rising GDP in developing countries, hence the consumption increase of premium brands. With the technological advancements to come up with new features all the time, this has allowed the company to grow as a brand.
The only main threat it is facing is a threat to the completion of products from its competitors. Apple meets end on market penetration of its products like smartphones and laptop competition (Omer, 2019). At times the company faces reduced the financial performance of the business. In other cases, there are rising costs of labor in some countries leading to reduced profit margins hence low performance.
Apple PESTLE Analysis
On the other hand, Apple Company is affected by political problems like other businesses in the United States. Other countries like China and India have threatened trade disputes against Apple's growth in its sales and production. At the moment, the tension is too much considering higher tariffs for the assembly products produced by the company. The government needs to improve the stability of trade disputes. The company also is affected by overall trade policies that are created in different countries over time.
Economically, Apple has the opportunity to expand and grow significantly in all countries of the world. The rapid growth increases have led to increased sales, especially in foreign markets. Production of high-quality products by Apple has allowed the company to compete with other technology companies like Samsung. With the target customers, there are increased disposable incomes that have affected the Company in most countries.
Significantly, there is increased social interactions and mobile access, which has resulted in increased revenues. People are considering buying smartphones and tablets from Apple because of their reliability and extended-lasting features. The company also face social threat against other business operations in the influence of proving quality services to the customers. Strategically the company needs to improve on its policies towards social, cultural trends in the global market approach.
Every business needs technology to make work more comfortable, especially the Apple Company. Technology is dynamic; therefore a company like Apple should be flexible to cope with the changes and should be in a position to integrate when required to. The elements are examined to enable the company to know the customer's responses to specific technological trends. Most importantly, Apple Company develops gadgets with the latest features, which are the customer's tastes and preferences. Apple Company produces phone accessories that are compatible with diverse technology.
Also, almost all the environmental elements in Apple's micro-environment creates benefits. The benefits include business compatibility and moves, product energy sustainable trend, and labour right tendency (Khan & Alam, 2015). Apple Company fits in the environment by addressing the gaps to settle on sustainable business. Apple Company came up with improved batteries that produce little heat, and that form steps Apple took to ensure efficient use of energy on their gadgets. The Apple Company supply chain improved the employment practices hence triggering the customer's perception (Khan & Alam, 2015).
In every business, some factors limit business operations. Legal considerations are one of the elements that influence Apple Company. These factors include health and safety, customer rights, and law and advertising standards. Increased telecommunication regulations limit the normal operations of the Apple Company. Legal considerations such as government privacy and regulations limit Apple productivity when producing systems that involve the transfer of private information that is new to them.
Isik, A. T., & Adali, E. A. (2017). The decision-making approach based on the combination of entropy and ROV methods for the apple selection problem. European Journal of Interdisciplinary Studies, 3(3), 80-86.
OFFER, C. Global Marketing Management: Apple Inc.
Khan, U. A., Alam, M. N., & Alam, S. (2015). A critical analysis of the internal and external environment of Apple Inc. International Journal of Economics, Commerce and Management, 3(6), 955-961.
Omer, S. K. (2019). SWOT analysis implementation's significance on strategy planning Samsung mobile company as an example. Journal of Process Management. New Technologies, 7(1), 56-62.
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