Wise Balloon Insight: The Rise Of Apple
A successful introduction of an innovation creates turbulence in the existing market and disturbs the economic life because it forces the existing products to lose their grip within the economy. Same was the case with Nokia when Apple iPhone came into the market and soon the decline in the Nokia’s phones which used to be the market leaders in mobile technology. Steve Jobs has been the innovation leader at Apple who came up with several innovations and created a change in how people use to see technology.
Apple has developed several products like iPod, mac, iPhone and iPad but all the products have been innovation driven. Apple is now a very well know brand known for its latest technology and good design.
There are three most important strategic learning behaviours in technology market:
For businesses it is essential to have customers information as this would help organisations to learn more about their customers and develop products based on customer value based capabilities.
Another characteristic of a high tech market is competitor orientation. This refers to understanding their competitors: who they are and what are they offering to the market? So the organisations can sets goals according to match competitor’s offerings if cannot exceed.
The third characteristic of high tech market is the Technological orientation, this refers to the understanding of the gap in the innovation within a market. This also allows the organisation to use their knowledge in order to create a new solution, which addresses the needs of their customers.
Apple seems to have the technological orientation strategy from the very beginning due to its continuous development of innovative products within the technological market. Technology has been evolving and so has the development at Apple. Apple has always been designing and delivering products, which were different from others in the technology market. Apple certainly has other products in development that will create new revenue streams in future. Whilst not all of the product lines has the same market potential of the iphone but together they can become a meaningful count.
The technology market is huge and Apple doesn’t hold a big proportion of the market yet. The challenge now for Apple is to maintain their share in market and expand at the same time with continuous development of innovative technology.
In order to expand Apple still has a lot to consider like expanding globally. Even though Apple is a famous brand but because of it being a premium brand which is expensive products compared to other substitutes. In terms of innovation Apple has always been on the forefront by coming up with new innovations and many other competitors have been targeting to deliver the same level of product in market.
Apple has a strong confidence in their products and being very innovative has helped them develop a competitive edge. We have never seen queues waiting outside Samsung stores on the launch of their new products but Apple has a huge fan base and people will still wait to see when Apple is preparing to deliver something new for the market.
Let’s wait and see!!!
Co Founder Insight/Marketing