Does Different Business Strategy Is Indeed a Requirement for Success Essay

Does Different Business Strategy Is Indeed a Requirement for Success - Essay Example According to the research findings, it can, therefore, be said that competition is even more profound in businesses surviving in competitive markets. Companies will, therefore, resort to innovation whereby new untapped markets will be created. However, creating and investing in new markets has its risks and disadvantages. The other option involves applying robust efforts to provide the same services and products better than any other player in the same industry does. However, the benefits cannot be retained for a long time. Therefore, the most successful business organizations resort to a hybrid of the two options. Best market players combine innovativeness and best of service to produce a different business field where competitors will find hard to compete. Most successful global business organizations have indeed survived the torrential market conditions by playing it differently. Apple is one of the leading companies in the production of high-tech electronic gadgets. Due to its su ccess, the company has become envy to most companies that are trying to follow its steps. With Steve Jobs as its current CEO, the company has achieved much success than other companies that have been in the industry for many years. Currently, the company’s market capitalization has exceeded $ 200 billion and this makes Apple find a position in the top ten companies in the globe. Currently, the company is ranked slightly below Microsoft, which is the leading technology company in the world. The most striking thing about the success of the company is how fast the company has achieved the success. Other market players in the industry are hoping to learn the secrets of the company and if possible emulate them. To understand Apple secrets, one needs to make a detailed analysis of its business strategies in order to determine how the same has indeed contributed to its success. Firstly, unlike other companies in the industry, Apple is a vertically integrated company. This implies th at the company control or owns most of the technology required to produce its products.

Social Media Paper Essay Example | Topics and Well Written Essays - 2250 words

Social Media Paper - Essay Example In the business context, social media continues to be the most used tool especially in the recent past (Lefebvre and Flora 1988, p.301). Some of the areas in business using social media as a platform to achieve goals and objectives are advertising, public relations and marketing. This is essentially because these are the very branches of the corporate world that need to come into close contact with the masses of people Research indicates that the corporate world spends billions of dollars on the social media to advertise and market their products. For example, in United States of America, the corporate world spent close to four billion dollars on the social media marketing (Hamill 1997, p. 300-323). The trend has continually changed, with exponential growth in the amount of money spent every year. Some of the social networks, for example LinkedIn, concentrate mainly on the corporate world (Ibrahim 2010, p.3-10). Here, networks are created between various business persons and firms. O ther business firms chose to use the platform for public relations by posting the videos of their CEOs giving insights about them. This means that social media is intertwined with the business world and its impact cannot be wished away. Social media brings in a shift in the concepts of reaching out to the consumers and selling the products to them. The traditional way of communication, say for example through posters, newspapers and televisions are slowly being replaced by the use of the social media (Xia 2009, p. 469 – 478). The implication to both the corporate world and the consumers is the change in the way the concepts of marketing and advertising are viewed. It is in this regard that I look at how the concepts of marketing, the consumers and the audiences have changed with the use of social media. Change in the Conceptions of Marketing, Consumers and Audiences The historical concept of marketing was that the consumers were provided with the manufacturer’s good, w hether good or bad (Zwick and Dholakia 2008, p. 318-325). However, with the social networking, it is not easy to penetrate into the market with this kind of an approach. The concept of marketing has broadened to include the processes of developing the product to its distribution. It also works closely with the research and development departments to learn on the necessary innovation on their products (Ibrahim 2010, p.3-10). The social media has therefore brought the need to have a comprehensive look at marketing. Its definition has changed to; the processes of planning and implementation of the concepts in the production chain to meet the demands of the consumer. With the understanding of how important social media is, the marketing strategies have taken a different turn (Mangold and Faulds 2009, p.357 – 365). Most of the marketers have moved to integrate marketing mix with the social media. The marketing mix includes the product, place, price and promotion. Looking into thes e four key aspects of marketing, one realizes that the concept has totally changed. For example, the products are varied and numerous. The tangible products have been modified to include the personal needs of different groups of people. The products vary in characteristics even as the characteristics of the consumers vary. In the second aspect of the marketing mix, the place, the location is now very flexible (Ibrahim 2010, p.3-10). A consumer may not have to be in a specific place as it was before. It