Contemporary Business Issues

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BA (Hons) Business Administration - Blended Learning
 
Programme Code: BSBLBA
  
Module Name: CONTEMPORARY ISSUES IN BUSINESS
Module Code: 6FBS0621

Coursework 1:
Becoming an industry leader in innovation THROUGH
BRAND MANAGEMENT
WORD COUNT:
3292
(Excluding table of contents and references)
 
Student Registration Number: 09284278

 Student Name: Sherraine Dinnesse Gayadeen

Programme Delivered by:
CTS College of Business and Computer Science Ltd
Executive Summary

The foregoing discussion delineates the brand management of Apple Incorporated (Apple). The company is a global leader in technological innovation, its creativity and design crossing boundaries the world over. As such an analysis was conducted on the environment that Apple operates in as well as the brand equity experienced by the company. With this information, it will be easier to develop an in-depth understanding of how and why Apple remains the dominant company in such a fiercely competitive industry. Brand management is an essential factor in the success of any company, Apple has over the years branded themselves as an innovator in the industry and subsequently has succeeded as such.

Table of Contents

Executive Summary2
1.0 Background to Apple Incorporated4
2.0 Environmental Factors – The Drivers for Innovative Change in Apple Inc.5
2.1 Shortening Product Life Cycles of Apple Incorporated5
2.2 Strategies to Cope with Changing Consumer Needs5
2.3 Technological Advances for Industry Leadership5
3.0 Brand Management6
4.0 Strategies for Building Brand Equity7
4.1 Perceived Quality8
4.2 Brand Association8
4.3 Brand Awareness9
4.4 Brand Loyalty9
4.5 Brand Identity10
5.0 Challenges Associated with Brand Management and Innovation11
6.0 Conclusion12
7.0 Recommendations13
References14

1.0 Background to Apple Incorporated

In an era where technology has become the basis for communication and a driving force for change, Apple Incorporated (Apple) has gained industry leadership in technological advancement. Apple’s pursuit for continued competitive advantage through its international brand management and constant innovation has lead to a plethora of eager loyalists. ‘The imperative in technological innovation is that superior technology of a competitor cannot be ignored by other competitors, except at their peril’ (Betz, 2003). By utilizing a combination of both strategies, Apple has realised and exploited this “secret ingredient” to success and has gained substantial growth over the years. Apple started out like many other technical companies in Silicon Valley by two young entrepreneurs; Steve Jobs and Steve Wosniak, in 1976. The company began production with the Apple I and over the years developed the Apple II as well as the Macintosh (Challis, 2010). During the early years Apple faced significant market failure, however by displaying a keen knowledge of marketing strategies including brand management, innovation, effective implementation of the communication process and the like, the company managed to stay afloat. As a consequence, in recent years, Apple Incorporated has become an internationally recognised brand and trusted household name, as well as a fierce competitor in the technological industry with the introduction of products such as the iPhone, iPod and iPad.

2.0 Environmental Factors – The Drivers for Innovative Change in Apple Inc. 2.1 Shortening Product Life Cycles of Apple Incorporated

Shortening product life cycles, in the case of Apple, are handled by constant re-innovation and re-engineering of products to suit the changing market demands. Furthermore, with the onset of globalisation and the concept of the “global village” access to foreign markets has become increasingly easier. Subsequently, competition has become even greater however, Apple’s innovativeness has become any rivals fear, a...
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