Please response to this tread
Based on the video, fast forward to the current day, and give your opinion on whether or not Apple's product strategy should change given its current rate of success and potential competing companies (i.e. Samsung, etc.) operating within their market. Provide a rationale for your response.
- For reference, review the supplemental article titled, "Competitive Strategy", which discusses Michael Porter's Five Forces.
Apple has indeed created a brand that seems to be more of a lifestyle. People use their iPhones and other Apple devices for daily living. It's a wonder that people could survive prior to its introduction. While Apple is a powerhouse in the tech world, I believe it is imperative for the company to continue to reinvent themselves with new products and innovative designs. As the video suggested, Samsung has proven to be a fierce competitor and one that is successfully keeping up with Apple. Sean Ross with Investopedia explains that Samsung has been a global force longer and produces more products in different industries. Apple's mission has been comparatively laser focused (Ross, 2015).
If Apple continues to focus on what has made them great and develop that, I believe they will continue to be a dominant force. While I am a Samsung customer, I can appreciate Apple's innovation and their marketability. They make consumers feel that you must have an iPhone, which is great for their bottom line. One of Michael Porter's Five Forces is Industry Rivalry. The rivalry between these two tech giants will continue to push each company to strive to produce the most innovative gadgets which is a win, win for the companies and the consumer.