One of the most innovative companies in the last few years has been Apple. Apple has became the largest company in history to be valued at over U.S. $ 620,000 million in the Dow Jones stock index, the New York Stock Exchange. All management decisions that Steve Jobs took to lead Apple to success were simply ideal. An increase in the share cost of the manufacturer of iPhones, iPods and iPads, among other digital devices, caused the price of Apple's valuation surpassed the mark set by Microsoft in 1999. It is now known not only as the principal industry leader in computers, but also as an electronic leader. Apple changed the way in which people used to buy or listen to music. An iPod or iTouch was not enough for them to satisfy us. They wanted and we wanted more; that is why they also created iTunes which changed the whole music industry.
Steve Jobs, who left Apple in 1985 after having some ‘’power’’ problems with the board of directors, returned in 1996 as an advisor. Then, he became CEO, and brought Apple back from bankruptcy to profitability in 1998. Steve Jobs is considered one of the most influential men in the world. His hard work to place this company as a leader in the technology market has no comparison. Apple has reached sales of 50 million iPods, 15 million iPads and 40 million iPhones, only in 2010, surpassed Microsoft as the first company in the industry. Since, Apple is an industry leader they sell its computers and electronics at a higher price than other companies with similar products. Steves Jobs knew that buyers care a lot about price, but he also knew that buyers also care deeply about design and that also other buyers care about both. If you sell a product at a higher price than the other you have to demonstrate why people should pay more for that particular product. (Pg.4, Apple Inc. in 2010).
Thanks to Apple’s distinctive and characteristic products and the way they want to get to people, it could penetrate the world market. Apple has no need to associate its brand to other brands because Apple always innovate its own ideas; it is always a step ahead of the competition. As an illustration, the touch screen of an iPhone, iPad, or iTouch, is something that will always belong to Apple. There are three words that summarize what Apple has done in the last few years to satisfy us. Relevance, customers are its first, second, and third priority; every single one of its products are always important, and its main goal is to make us feel unique using that product. Even if they do not create a new product; all the updates that an old product receives makes that product better than it used to be and at the same time unique. Exclusivity, that is what “Apple” means. Anyone who has an Apple product feels unique. People who own an iPad or an iPhone know they have an exclusive and distinctive product. What Steve Jobs and Apple did was amazing. Nowadays, whenever we think about technology that first name that comes up in our minds is Apple; having an iTouch on our hands makes us feel that we have quality; that makes us feel happy and of course it will makes us buy more Apple products. Credibility, Apple users know that their products have always been and will be of quality. Apple has always had the credibility of its products are free from defects. Apple has done incredible things, but if they want to continue being the leaders of the industry they have to keep working harder and harder. Apple has to continue improving or creating new products; they have to keep their customers happier than they are now or before because if Apple does not that they will start losing customers. Samsung, Nokia, Google, Microsoft, or any other yet unknown competitor in the industry will take its position. Apple is not a monopoly.
Apple competes in monopolistic competition. It describes a market in which many sellers offer their products, but those products are not viewed as identical by consumers. The product has to…