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What are the Strengths and Weaknesses?
Based on the current market trends and product demand, Apple Inc. is the market leader in its industry (Apple Inc, 2012). One of its strengths is evident through the incredible customer loyalty. The company has also managed to outdo the stiff competition in its field of expertise. The total value of the company is at 567 billion dollars, which is impressive to most financial analysts. Apparently, the company is also growing at a fast pace rate with annual yields of approximately 1.75% of its total value. Furthermore, the company is recognized worldwide implying that customers trust its products.
However, the company faces an ever present pool of competition due to the nature of the product they deal with. Some of its competition is from big companies such as Google and thus an imminent danger of losing the market. Currently, the company is facing problems from its main supplier where products are not delivered on time.
What is the brand promise?
The logo used by Apple Inc. in branding their products is what makes the product unique and easily identifiable from other competitor’s products. The logo consists of a partially bitten apple which depicts the company’s core values. The brand promise for Apple Inc. is ‘think different’ (O’Grady, 2011). They focus on the customer and try to provide innovative devices that help in changing the status quo. There is no other company that uses the same brand promise.
Apple Inc. strives to provide products that are not similar to the other brands. Their brand promise is simple, memorable and meaningful as the products mimic the same. Their brand logo is meant to show how different they are from their competitors. From the current market trends, it is obvious that they have delivered on their uniqueness.