Apple Inc. - The Product Conglomerate
Conglomerate in business is not something that can be related to products. Usually, conglomerates are different independent businesses that make up a corporation; this is not a word associated with Apple. Apple has dominated the marketplace with its ingenious development strategies for its products. Its loyal customers have not questioned the lack of new innovative features for its products in the last decade or so. From a consumer standpoint, having all the Apple products is like living in a fantasy reality. Being able to connect an iPad to an iPhone and an iPhone to a MacBook without using any cables seems to be the way forward in terms of reducing both work and cognitive loads.
Consumers continue to share their personal experiences with others and this strategy has allowed Apple to spend less capital on marketing because the word of mouth promotions work very well for the brand. Although the lack of innovations is evident in recent years and the launch of little tweaked new products that get loyal customers excited; Apple continues to increase its market capitalisation which has reached $3 trillion according to NASDAQ and Apple’s capitalisation is bigger than some of the BRICS economic countries.
Although products have not gone under any innovative processes; this and its competitors have not been scrutinised Apple has not paid any attention to this. Samsung has got its customers that love their products and Samsung knows that their customers will not switch to Apple. However, times are changing and more people are becoming interested in Apple products and this is due to content affiliation with social media influencers. The way that Apple has instilled innovations at the centre of its operations makes it a formidable force in the industry. Apple is not known for its amassed innovation. Apple is also known for its cute innovative tricks that enable consumers to be amazed by its products' little features.
Although innovation has changed the culture within Apple. It has also regenerated an auspicious idea for further product developments. The product developments have reconfigured the sustainable approach that Apple wants to adopt for its products. These products that Apple has developed have their uniqueness that enables consumers to behave differently towards their products. Achieving a conglomerate status for Apple is based on how intrusive each product has become - forcing consumers to react differently when a new Apple product is released every year.
Exploring each product allows an openness and an understanding of how Apple has created a product conglomerate. The iPhone has become a sister company for Apple and it is a product that sells without any marketing efforts from Apple. The iPhone sells itself as it is positioned well against the Samsung S brand. The iPhone’s user-friendly approach makes it more dynamic for users to understand the features of the products than other product offerings from its competitors. The continuous release of different iPhones annually has still not stopped consumers from buying the new release each year.
The uniqueness of the iPad makes it different from any other tablet on the market and the creativity of the iPad puts Apple ahead of the game - allowing Apple to create a niche market for a product that is only relatable to designers and anyone who wants to be creative. The Macbook and iMac cannot match any Windows-based computers. More students have opted for a Macbook rather than an i7 or i9 laptop which are cheaper and operate smoother than Macbook. The simplistic and stylish designs make it aesthetic to suit consumers who want a simple but powerful machine.
Each product that Apple has in its product portfolio is a corporation as each product makes more revenue than most contemporary corporations that are part of a conglomerate. Apple’s four products cannot be matched by its competitors in their respective industries.
Apple continues to extend its product offerings with extensive strategies so that it can renew the interest of its products. The M2 and M3 chips show how the research and development team at Apple continues to find innovative ways to enhance the performance of its system and deliver reliable consumable products that can last for decades. Apple has shown that Apple can be a product conglomerate. This extends its product portfolio and increases its market dominance and share. There is a prediction that Apple will increase their market capitalisation to $5 trillion in a decade.