Literature Review for Apple Inc - MyAssignmenthelp.com

Question: Discuss about theLiterature Review for Apple Inc. Answer: Every company that wishes to expand and maintain its market share must uphold ideologies and policies that promote innovation and creativity. These inventive concepts will ensure that their business is in a position to make sure that they retain their consumers and attract new ones, even if the competitors offer seem more attractive. Having the best employees and managers in the industry is a huge milestone for any company as they are the foundation of generating new ideas in the industry. Consumer behaviors and tastes are ever changing hence making enterprises in the technological industry to invest a lot in studying them, learning a gap and developing innovative techniques to deal with that particular customer problem and gap. The emergence of smartphones has differentiated itself from the other means of communication by having both the tangible and intangible features in one phone. Over the recent years, mobile phones improvements have tended to be more to vertical rather than horizontal innovation, but that has not changed the fact that a product needs to differentiate itself from its competitors (Ilyas Ahson 2006). It is essential to note that the internet factors have significantly contributed to development and sophistication of smart mobile phones. Before 2007 many mobile phones manufacturers had integrated the idea of smartphone although not fully until 2007 where Apple.inc introduced a smartphone that embraced the whole idea of a smartphone by adding OS in its features. Smart and shrewd leaders in the smartphone industry have been characterized by their ability to motivate and generate new ideas for their companies. Manufacturing and developing new technologies have made it possible for major smartphone companies to maintain their market share and have a competitive edge over their competitors. Developing a competitive design has made it possible for these companies to make enormous profits by meeting customer expectations and occasionally exceeding them (Giachetti, 2013). In Australia and worldwide, Samsung has experienced a significant growth both in market share and their annual revenues. The growth has been realized as a result of the company accepting the ideas that smartphone industry dominance and survival is possible if companies keep meeting technological expectations of the customers. The number of individuals owning smartphones is increasing at a tremendous rate, but so are their demand for quality products. Smartphone customers are both price and quality sensitive, but quality and creativity behind an invention is the most influential factor in customers choice between his or her wide range of varieties. When manufacturing new technologies, smartphone companies are heavily influenced in determining customer behaviors, influencers, and drivers. Demographic and environmental factors are the primary influencers of how a customer will make a purchasing decision. Demographic factors are individual determinants such as age, education, social lifestyle and attitude toward a given feature (Rasheed, 2012). Environmental factors revolve culture and social influencers that will make a consumer decide to buy a Samsung smartphone over another type of a phone. Smartphone features such as brand name, price, usability, and features are among the important determinants that companies pay high attention to when developing new products for the market. Marketing departments for these organization invest a lot in research while trying to figure out the purchasing decision process where a customer must recognize a need, search for available information about the product of need, evaluate the possible alte rnative or options, makes the crucial decision of purchasing the product, and after that customer will make after purchase decision according to the quality of the product he received (Pride Ferrell, 2014). Smartphone enterprises are investing heavily in maintaining their market share and attracting new product consumers. Technology evolves rapidly and will never stop developing thus making manufacturing new advanced smartphones the only strategy to retain their market position. The new technologies are typically aimed at improving usability, efficiency, effectiveness and user friendliness of the subject product (Woyke, 2014). A Large portion of smartphone consumers are below the age of 50 years, thus making the companies scramble for this market by understanding and researching about their purchasing behaviors. Several studies have shown that this age bracket is mainly influenced by usability, feature advancements, and appearance of the handset. It makes smartphone manufacturers spend most of their time developing, aligning, ideas and innovation for improvements of the already made products and also for the upcoming products that are targeted at this group. One of the distinctive features of smartphones to the tradition phones is its ability to meet customer leisure and entertainment demands. The quality of a phone is defined by its features that make entertainment uses such as music, video watching and game playing enjoyable and efficient. Low quality and outdated smartphones will normally have a problem in playing these features thus making manufacturers pay attention to entertainment friendliness of a product. Graphics, memory and processing power of a smartphone will significantly influence if a customer accepts or reject a product. Services beyond the handset such as warranty, customer care, and operational use advice will play a significant role in ensuring the loyalty of a client toward a particular brand. Technology advancement has made it possible for the companies to develop new features in their handsets. Operating systems are quickly advancing and being developed while Android features are being integrated into the new systems. The life cycle of a handset has decreased to about one year from the three years as customers are frequently motivated to buy the best and latest products in the market (Zhou, Lazonick, Sun 2016). It is essential to note that new smartphones are commonly characterized by the increase in speed after every invention. The smartphone industry is a complex and ever-changing industry thus making companies depend on innovative designs of new phones and improvements to the present ones as a way of ensuring it maintain its market position. Demands are different among customers, but demand for quality and up to date products remain constant all through. Consumers spending on advanced smartphones are not likely to go down, but these customers will always demand a product that gives them fast internet connectivity, friendly interfaces, and features. The first smartphone was developed in the early 90s and was known for being an affordable and heavy handset. As the years progressed, the smartphones are becoming smaller, portable in size efficient and affordable to many customers. These differentiating and advancing features are making most companies remain competitive, attract customers from the competitors and retain theirs. List of References Giachetti, C. (2013). Competitive dynamics in the mobile phone industry. Basingstok, Palgrave . Ilyas, M., Ahson, S. (2006). Smartphones. Chicago, Ill, IEC Pride, W. M., Ferrell, O. C. (2014). Marketing. Australia, South-Western Cengage Learning. RASHEED, H., PH. D. (2012). Innovation strategy: seven keys to creative leadership and a sustainable business model ,London, iUniverse Inc. Woyke, E. (2014). The Smartphone Anatomy Of An Industry. New York, New Press. ZHOU, Y., LAZONICK, W., SUN, Y. (2016). China as an innovation nation. Oxford, United Kingdom, Oxford University Press.