MGMT601 - Global Economy Assignment - Perri, Emily

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Running head: GLOBAL ECONOMY ASSIGNMENT 1 Global Economy Assignment - Apple Emily A Perri DeVry University MGMT601 – MBA Capstone Professor Brent Ward May 14, 2023

GLOBAL ECONOMY ASSIGNMENT 2 Global Economy Assignment - Apple What is the broad differentiation strategy? It’s a strategy that builds a brand or business that is usually different in a certain way from its competitors. It appeals to a large range of customers and is applied to the industry (Eads & Gafner, 2022) . Essentially, businesses develop different, unique, and distinct from their competitors, aiming to increase their competitive advantage. What is a business that we know that does something like that? The first business that pops into my mind is Apple. Apple is a tech company that was started in a garage in 1976 by Steve Jobs and Steve Wozniak. The first product and focus were on creating a top-of-the-line computer. They did well with that and then in the late 90s it was time to broaden their products and Apple created the iPod and then from there it was just onward and upward (The Founding of Apple Computer, Inc., 2023) . Today, Apple is most known for creating items such as the iMac, iPhone, and iPad. Apple’s strategy is broad differentiation . Since the tech market is so large Apple uses this strategy to focus on important features that help differentiate them and its information technology products from others in this same market (Meyer, 2023) . Through the broad differentiation strategy, Apple really shines and stands out amongst the crowd. Apple’s sleek design and user-friendly products, in combination with its top-of-the-line branding, completely transform the technology business. Using this strategy means that Apple will forever aim to set itself apart from competitors not always by price but by the competitive advantages that are based on product designs that attract customers. Apple’s design is the starting point of all of its products and is considered one of its foundation principles (Meyer, 2023) . Apple has been at the cutting edge of stylish personal, seamless computing that’s sleek, minimalistic, and easy to use. Even though this strategy makes Apple different, the company still has a broad reach into various different areas of the market. The products are specifically designed for everyone, therefore supporting a huge market reach (Meyer, 2023) . Since the products are designed for everyone

GLOBAL ECONOMY ASSIGNMENT 3 they attract both businesses and individuals to use their products from the iMac to the iPhone and being able to link all the products is a game changer. Since they can appeal to everyone this supports the use of a broad differentiation strategy and supports the company in maintaining its leadership, competitive advantage, and position as a high-value and high-end technology business. There are some downfalls to this strategy for Apple. In order to be masters of this strategy Apple has to continue to focus on innovation through research and development. Apple has to be able to keep developing and making innovative and contemporary products that will allow them to maintain their competitive advantage. Apple’s competitors usually eventually always catch up to the new products and new technologies that they are using, for this reason, the broad differentiation strategy forces them to continuously create and develop and even upgrade products to keep itself in front of the competition (Meyer, 2023) . One of Apple’s top competitors is Samsung, which is the biggest company in South Korea. Samsung has become one of the largest and most profitable companies worldwide. So being that they are one of Apple’s top competitors, Apple has to make sure that they are always staying one step ahead of Samsung (Catalano, 2022) . Apple’s strategy of broad differentiation adds a competitive advantage by causing them to stand out. Differentiation in design and product function shows their goal of leading the market in technological innovation. Innovation is at the heart of Apple's business. Apple's main intensive growth strategy is product development. Market development and market penetration have a lower priority in this area. These growth strategies agree with and support Apple’s broad differentiation strategy. Apple is a strong company when it comes to product development through innovation.

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GLOBAL ECONOMY ASSIGNMENT 4 References ,, Catalano, T. (2022, January 07). Who Are Apple's Main Competitors in Tech? Retrieved from Investopedia: https://www.investopedia.com/ask/answers/120314/who-are-apples-aapl- main-competitors.asp Eads, A., & Gafner, J. (2022, August 08). Differentiation Strategy: Definition, Benefits and Creation . Retrieved from Indeed: https://www.indeed.com/career-advice/career- development/differentiation-strategy#:~:text=What%20is%20a%20broad %20differentiation,a%20vast%20range%20of%20consumers. Meyer, P. (2023, April 29). Apple’s Generic Strategy & Intensive Growth Strategies . Retrieved from Panmore Institute: https://panmore.com/apple-inc-generic-strategy-intensive- growth-strategies The Founding of Apple Computer, Inc. (2023, May 14). Retrieved from Library of Congress: https://guides.loc.gov/this-month-in-business-history/april/apple-computer- founded#:~:text=and%20Photographs%20Division.-,Apple%20Computer%2C%20Inc.,in %20their%20homes%20or%20offices.

MGMT601 - Global Economy Assignment - Perri, Emily

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