Business Entrepreneurial Rhetoric

Question: Discuss about the Report for Business Entrepreneurial Rhetoric. Answer: Introduction Apple Inc is considered as the most popular technological companies globally. The iPhone is one of the primary products of the company which has over 42 million users globally (Bonk, Celine). There is huge demand for this product and the brand has a dedicated base of loyal customers. The phenomenal success of this brand is dependent on several factors including the business model. A comparison is being done with the existing market research and the article presented by Yuan and Langesen named What factors contributed to the success of Apple iPhone? This report would discuss the various factors that have led Apple iPhone to be one of the market leaders. It describes the innovative approaches adopted by the company. Discussion The article by Yufei Yuan and John Laugesen gives an in-depth analysis of the success factors of iPhone (Laugesen, John and Yufei Yuan). It has focused on the user acceptance aspect of the success factors. This implies that the company is able to understand the customer preferences. Apple has successfully identified the needs of the target market and fulfilled their expectations based on culture, demographics and behavioral aspects (Laugesen, John and Yufei Yuan). It has also paid attention to the environmental factors such as mobile data services that are essential for iPhone (Laugesen, John and Yufei Yuan). The article has proposed an innovative success model and almost all the factors are being tapped by Apple. The first group of factors deals with consumer factors such as demographics, user preferences and culture. The brand targeted the young population who are technology savvy and demonstrated high dependency on smartphones (Laugesen, John and Yufei Yuan). The brand also focuse s on the user preferences such as entertainment services and designed its products accordingly. The company tries to satisfy the cultural niches through the utilization of content as well as software (Laugesen, John and Yufei Yuan). The second group of factors deals with the corporate factors such as business model, technology, marketing, branding, content providers and network operators. Apple has business models which are based on its core competence (Laugesen, John and Yufei Yuan). It has adopted the device centric business approach which is considered as one of the most important factor for the brands success (Laugesen, John and Yufei Yuan). The company also engages in extensive marketing tactics and provides customization of their products based on the customer needs. It maintains control through distribution and content access (Laugesen, John and Yufei Yuan). The company depends on the third parties for the development of application and their content. It aims to increase the value chain by improving the core competencies of the firm. The third group of factors comprises of the environmental factors such as regulatory norms and the infrastructure. The company has focused on the regulatory aspects required during the launch of the services as well as products (Laugesen, John and Yufei Yuan). The company believes that it is important to coordinate well with the regulatory authorities so that there is smooth launch of the iPhone. Apple has focused on the improvement of the infrastructure of the different countries. It has focused on enhancing the user experience and has tapped the current technologies available in the mobile industry. According to Davila et al., Apple has focused heavily on the innovative aspects of their products. It has created innovative product lines such as iPod, iTunes, iPhone, Apple Stores and App Exchange. The innovative product has helped the company to retain its topmost position in the market. This is the primary reason behind the extreme popularity of the brand. The second important reason for the success of iPhone can be attributed to the advertising and the differentiation aspects of the brand (De Mooij, Marieke). It has created innovative advertisements that capture the target markets well. The campaigns involving the Super Bowl Commercials 1984 and iPod People were popular among the masses (De Mooij, Marieke). The third most important reason is the extensive distribution and retail networks of the company. It has been established that Apple has one of the largest distribution network in the United States (Homburg et al.). The distribution of the products of the company is done thro ugh retail stores, online stores, direct sales channels and third party resellers (De Mooij, Marieke). This makes the product readily available at all times and the customers can choose their convenient distribution channels. The fourth important factor deals with the customer service (Bone et al.). Apple strives to provide excellent in store experiences as well as after sales service. It strives to enhance the customer satisfaction level of the consumers (Bone et al.). The problem underlined in the report comprises of the wide variety of alternatives available to the target audiences. This is determined by the market research. The problem was quantified by consulting with several journal articles (Bone et al.). The iPhone has satisfied the requirements of the target market and this is one of the primary solutions to the problem (Bone et al.). The iPhone has fulfilled the customer requirements and this has been proved by the comparative analysis. The economic model showcases that iPhone has benefitted the target market which has increased the sale of the products. It has led to increased revenue for the company which has resulted in the greater profit generation (Bone et al.). It is clear that Apple Inc. receives high benefit from the greater purchase of iPhones. The roadmap is concerned with the distribution channels that are used by the company in order to make sure that its products reach the target audience. Entrepreneurial Storyboard The storyboard presents the events undertaken by Apple Inc. which is related to the conception, launch, promotion and marketing of iPhone. It comprises of several rubrics such as problem rubric, solution rubric, economic rubric and roadmap rubric. The problem rubric identifies the target market and the various alternatives they are looking for in order to satisfy their preferences. The solution rubric shows the launch of iPhone which solves the worry of the customer. The economic rubric shows the increase in sales of the company due to the launch of iPhone. The roadmap rubric shows the marketing approach that should be adopted in the company for the future. Conclusion The article has strong impacts on the issue and enumerates the reasons for strong foothold of Apple. It discusses the appropriate reasons that drive Apple for achieving more success. The comparative analysis method is used for the purpose of comparing the current market research along with the provided article. This comparison is useful in understanding the factors contributing to the success of iPhone. This report would broaden the understanding of the topic and would also facilitate further research on this topic. References Bone, Sterling A., et al. "How customer participation in B2B peer-to-peer problem-solving communities influences the need for traditional customer service."Journal of Service Research18.1 (2015): 23-38. Bonk, Celine. "The impact of Apple's communication and French and Finnish consumers' product perceptions: case of the iPhone product." (2015). Davila, Tony, Marc Epstein, and Robert Shelton.Making innovation work: How to manage it, measure it, and profit from it. FT press, 2012. De Mooij, Marieke.Global marketing and advertising: Understanding cultural paradoxes. Sage Publications, 2013. Homburg, Christian, Josef Vollmayr, and Alexander Hahn. "Firm value creation through major channel expansions: evidence from an event study in the United States, Germany, and China."Journal of Marketing78.3 (2014): 38-61. Laugesen, John, and Yufei Yuan. "What factors contributed to the success of Apple's iPhone?."Mobile Business and 2010 Ninth Global Mobility Roundtable (ICMB-GMR), 2010 Ninth International Conference on. IEEE, 2010.