New Product Development is the Key to Apple's Marketing Success Coursework - 1

naked as a jaybird intersection point Development is the Key to apples Marketing Success - Coursework ExampleOne of the or so innovative fruits of Apple was iPhone which was considered as one of the best-selling reapings. The business operations of Apple are spread out in almost every geographical nations (Apple Inc, 2012). Apples Strategies Apple seeks to apply its idea of beingness a digital heart in the field of electronic results because customers demand stylish and cohesive digital devices. Apple always attempts to distinguish itself from other brands so that it can put bounty rates on their products. The business strategy for Apple is to find the accurate equilibrium between customer satisfactions and comprise because this buy the farm is vital for raising the product price for customers and thereby increasing profitability. In the consumer electronics market, Apple is known for premium price products because it invests huge amount of funds on new product developm ent and innovation activities. The product differentiation is a major competitive strength for Apple as it can successfully emergence the perceived value of its products and abet to generate more revenue in spite of premium cost (Iiiev & et. al, 2004). Quality products and innovation through wide practise of research and development (R&D) is the other key intellect behind the success of Apple in the market. The main objective of Apple is to expand its customer coarse (Iiiev & et. al, 2004). Product Portfolio of Apple Traditionally, Apple manufactured and developed software applications and computer products however, after the introduction of iPod as one of the preferable MP3 players for people, several new product lines have been included in product portfolio of Apple. The gray-headed and new product portfolios of Apple are described in following table Product Portfolio Product Lines Software and Computer iOS, Mac Operating System, Professional and Business action Programmes, Personal Computer hardware Products Desktop Computer, Laptop Computer, iMac, Mac Pro, Mac Mini, iBook iPhone Mobile Phones, iPods, Digital Devices, iPads iTunes Music, Applications, Bookstore iCloud Cloud Services Application Software iLife, iWork Display and other Fringe Products Printers, Storage Devices, Digital Cameras, Apple TV Source (EDGAR Online, 2011). raft Apple has a bureaucratic organisational structure where CEO is in the top position of hierarchy. The CEO and delinquency Presidents gather reports about companys business operations from both line and staff managers. Apple is highly dependent on manufacturing representatives on whom it has no direct influence. The positions of Apple in the organisational hierarchy are described below Source (Apple Inc., 2012). New Product Development New product development is all about introducing new product in any industry. It is a process for developing a product in order to certify progress or survival in the market. The aim of n ew product development is to strengthen or transform the strategic direction. An effective new product can help an organisation to add a new product line under the product portfolio (Takeuchi & Nonaka, 1986). Reasons for Launching New Product in the Market Developing new product signifies relocating or