Apple Inc. SWOT Analysis
· Apple has a considerable market share
· The company is technologically advanced
· Apple has a diverse product range
· Increased Apple services
· Increased design and quality
· Huge customer loyalty
· Inadequate digital marketing
· The company has limited designs for phones
· Costly products
· Allegations of tracking customer locations
· Product compatibility issues
· Development of Artificial Intelligence
· Production of environmentally friendly products
· Employment of virtual reality
· Russia-Ukraine war.
· Increased competition
· Technological changes
· Outbursts of Covid
Apple Inc. Strengths
Regarding technological innovation, Apple has never lagged behind the competition. Among the most notable features that have always captivated purchasers are Airdrop and Siri (Chen et al., 2021). Apple was the first to market with a smartphone with a high-quality camera, but other manufacturers followed suit. Apple has always been ahead of the competition thanks to its innovative use of technology. The percentage of clients and consumers is essential for any business. When a company wants to expand and fill an unmet need in the market, it must diversify. Apple's product lineup has evolved. In contrast, it may have started selling mainly computers and computer-related accessories. Apple's main priority right now is to improve its services. For instance, an iPhone has a classic design that has not changed in years but still exudes elegance. In the process, you have reached the pinnacle of social and economic success. Many consumers will not settle for subpar quality, and Apple understands how to keep its customers happy (Li, 2021). Apple takes great care to ensure that every product they release is of the highest possible quality by employing cutting-edge manufacturing methods. A steady stream of satisfied customers is a massive boon for any business. As unfortunate as it may be, Apple is one of those brands that enjoy devoted followings.
Apple Inc. Weaknesses
Apple invests a tiny amount towards digital marketing compared to other large businesses. Apple's 2019 digital advertising spend is reportedly as much as 68% lower than the previous season (Chen et al., 2021). Externally, the iPhone 8 is simply different from the original iPhone in size and thickness. The phones were simple, spherical devices with a button press in the middle. Despite Apple's best efforts, many iPhone customers feel a lack of visual diversity in the iPhone lineup. Apple's products are among the greatest in the market, but unfortunately, most people cannot afford them. Many would-be Apple buyers have looked elsewhere for products because of the company's exorbitant prices. Some claim that users' actual locations might be revealed thanks to Apple's tracking systems. Apple introduced a feature that allows customers to disguise their specific location in response to claims that the company improperly used user data (Sharma et al., 2020). The selling of iPhones mainly drives Apple's revenue. Apple has made efforts to expand beyond the iPhone, but the smartphone remains a top seller. If iPhone sales were to fall for whatever reason, Apple would be in a very precarious position.
Apple Inc. Opportunities
With a new generation of AI sweeping the globe, Apple can use these advancements to make its products more accessible. There has been much progress in this direction, but much is still to be done (Li, 2021). Numerous efforts are being made to lessen the effects of climatic change. It is not just the planet that will reap the rewards of manufacturing eco-friendly goods. Still, it will give Apple a good impression, which could boost future product sales. Although most people associate virtual reality with gaming or other forms of entertainment, Apple can put this technology to work for advertising. An online platform would allow Apple to host its events for a wider audience. Over the past few decades, reliance on technology on a global scale has progressively increased. As a result, the demand for intelligent gadgets continues to rise, providing Apple with a fantastic opportunity to expand its customer base by enticing new buyers. The globe has become a small, interconnected community (Sharma et al., 2020). Thanks to the expansion of global trade and the development of faster and more reliable transportation, consumers can now easily order and receive goods from dependable businesses worldwide. This is an excellent chance for Apple to expand its client base and bring in more money from people worldwide.
Apple Inc. Threats
Companies worldwide are feeling the effects of the conflict between Russia and Ukraine. Apple, too, will lose money after pulling out of Russia. The United States has slapped significant tariffs on China, which has led to a rise in the price of Chinese goods (Zeng, 2021). With higher production costs, Apple will have to charge more for its goods. With competitors like Google, Huawei, and Samsung releasing increasingly cutting-edge products, Apple has reason to be concerned. Therefore, Apple must work hard to maintain its position as the market leader in this challenging environment. As a result of the rapid pace at which technology is advancing, the world's existing technological infrastructure quickly becomes obsolete. So, Apple must embrace change and new technology to keep its dominant market position and thrive. Apple's supply chain experienced severe disruption due to the Coronavirus pandemic in China (Sharma et al., 2020). Consequently, Apple experienced significant financial losses. Apple's stock value dropped by $100 billion due to the delayed iPhone's introduction to the market.
Chen, X., Liu, Y., & Gong, H. (2021, December). Apple Inc. Strategic Marketing Analysis and Evaluation. In 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) (pp. 3053–3061). Atlantis Press.
Li, Y. (2021). Apple Inc. Analysis and Forecast Evaluation. Proceedings of Business and Economic Studies, 4(4), 71–78.
Sharma, L., Burark, S. S., Kaushik, R. A., & Meena, G. L. (2020). Prospects of Custard Apple Value Chain Development in Rajasthan. Economic Affairs, 65(2), 207-212.
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