The Apple Company's Foreign Expansion and Market Entry Strategy

Qui Lin*, Li Xiaoyu, Zhu Jianqiang

Department of International Business Area, Lincoln University College, 47301 Petaling Jaya, Selangor D. E., Malaysia

* Corresponding Author’s Email: Quilin006@outlook.com.

Abstract

A company's marketing plan is one of the most crucial components in determining its success. In addition to conceptualization and creation, a comprehensive marketing plan must be implemented. Businesses use limited resources to implement their marketing strategy in order to sell their way to the goals and objectives they have defined. A marketing strategy is a process that allows a corporation to explore and evaluate its limited resources in order to grow sales and attain market leadership. It acts as a basic or main key to the aims of the structure. The primary or most important component of Apple's marketing strategy is the product. This product aids in increasing market share, brand recognition, and customer loyalty. In recent years, Apple has been unbeatable because of its innovative business practises. They are most renowned for their unique sense of style and design, good marketing strategies, and superior communication skills. With its products like the iPad, iPhone, iPod, and Macintosh, among others, Apple has had tremendous success in recent years. Consumers are quickly drawn in by a combination of the newest hardware and attractive designs, performance, and user- friendliness. Apple Inc. employs an effective marketing plan. For all of their products, they use the same approach. This study is based on Apple's marketing approach. The type of marketing technique used to promote Apple products is addressed. People are given a questionnaire, which has been developed and circulated; it is used to record the responses' ideas and opinions. The results and recommendations are provided below, along with a detailed discussion of the questionnaire responses.

Keywords: Apple’s Marketing Approach; Brand Recognition; Consumers; Marketing Plan

Introduction

According to the study of Nooney, (2023) Apple Inc., a technological company whose main SIC is radio and television communications equipment, was founded in California under the name Apple Computer, Inc. on January 3, 1977. The present name was chosen on January 11, 2007. In 1976, Apple debuted its head invention, the Apple 1 PC. Since then, Apple has significantly increased its product and service offerings. I Phone is one of the most popular items now offered by Apple. I Phone sales contributed for fifty percent (50%) of Apple's entire income of $274 billion during its 2020 fiscal year (Khanduja, 2022). Apple is reaping the benefits of the Services sector's continued momentum, which is powered by the App Store, Apple Music, video, and cloud services' strong results. Apple's artefact line, which comprises the iPad, iMac, and Wearable, is also in high demand. The revised iPad and Mac product lines, the health-focused Apple Watch 6, 5G-enabled iPhones, and the steady progress of the facilities industry all donate to Apple's optimistic near-term outlook. Apple's profit potential is greater than the industry average, as seen by its strong cash flow and balance sheets. But, growing attention and legal difficulties have hindered the company's progress. In light of Yiran Meng's valuation of Apple Inc. and the outputs of the reference for customers is to purchase or hold Apple shares founded on estimate replicas and monetary statistics. The writer also suggests that when there are few acceptable investment options, a company should consider increasing dividends.

Analysts of the Market Line research report cite Apple's spreading systems, R&D, and sales progress as the corporation's greatest strengths, despite ongoing concerns about litigation and decreasing profitability. The market for smartphones in North America, strategic planning, retail growth, new product introductions, and strategic acquisitions are all projected to contribute to the company's development potential (Arunachalam et al., 2020). Yet, the firm's operations might be impacted by issues with foreign exchange, severe competition, dependency on network providers, and technological developments. In The Strategic Watch, Faizul Haque discusses Apple's strengths. He believes Apple's advantages include a stringent hiring procedure and strong brand awareness. Abhishek Srivastava reinforced the notion by suggesting that Apple's success may be a result of their ability to cultivate a tribe or fan base that feels unique since they all use Apple products. Apple launches goods at a dizzying rate, and Apple fans purchase both innovative devices when it is released. Certain individuals even establish camp in front of businesses to assurance they receive the most recent items. Faizul identified Apple's greater pricing than other smart phones as the company's problem, along with its declining market share among middle-class consumers. The Wonder share EdrawMax study report's researchers gave a more thorough explanation of Apple's potential. Apple's loyal customer base and the rising need for cloud-based services represent its greatest opportunities. By showing interest in new items, Apple customers continue to support the business. More people are using cloud services for their regular activities as internet access and speed improve. Apple can broaden its selection of I Cloud services and apps as the market for cloud-based services expands. Imitation has always posed a serious danger to Apple products, as Kiesha Frue explained in her further discussion of the threats facing the company. Although Apple's strategy is slick and straightforward, it is precisely which makes it simple to copy. Fake iPhones and iPod touches with very similar exteriors are sold in international markets. Also, a lot of individuals fell for the "very inexpensive Apple devices offered online" fraud.

Michael L. Mallin, a professor at the University of Toledo, performed a product portfolio study, which was reviewed by designers, in order to build his own theory on Apple's product distribution (Brodsky, 2021). Michael gives a financial analysis of a company's product portfolio while discussing the past of Apple Computer and its primary manufactured goods lines (Brodsky, 2021). He also contends that the management group may do a product portfolio study to determine which Apple products are projected to be the company's most lucrative in the future. The resources allotted and financial resources available to assist other Apple initiatives would both be impacted by this type of analysis, making it essential for shareholder awareness of the company's future. Considering the financial component of the investigation,

Nik Soh's examination of Apple provides guidance. To analyse Apple Inc.'s success, He assesses both internal and external factors that affect the operation of the business. Internal factors to be taken into account include default risk, operating risk, financial risk, and investment risk. Outer influences include inflation, exchange rates, and index rates, as opposed to the Gross Domestic Product (GDP). According to universities, Utara Malaysia's Nur Husnina Mohamad Yusoff, his analysis of the risk factors affecting Apple Inc. reveals the factors affecting a company's performance from the perspectives of methodical and disorganized hazards, and the results indicate that the risk and economic environment can impact a company's performance (da Silva et al., 2020). In order to emphasise the geographical roots of its products, Alberto Garcia Marrero identifies Apple Inc. as one of the top worldwide multinational firms based on sales, profitability, assets, and brand equity. Yet, Apple Inc.'s expansion has been rapid rather than linear. There have been setbacks along the route. In order to identify opportunities and overcome impediments for worldwide expansion, he examines Apple's past 10 years of progress and its future possibilities.

In this paper, the researchers group will investigate how Apple's revenue fluctuates based on product categories and geographic location, as well as the logic for the discrepancy between these two techniques of evaluation. In addition to performing business research, it will undertake PEST and SWOT assessments to increase a better understanding of Apple's future profitability. Secondly, it will do a financial analysis to see how Apple's sales revenue differs by product category and geographical region in connection to this issue. Finally, it will recommend ways for Apple to increase sales revenue across a number of goods and locations. In order to determine the probability and applicability of the recommendations, it will also examine the study it did and Apple's real performance. In the end, it will analyse the limitations of analysis and the anticipated sales performance of Apple Inc.

The researchers also believe that the seasonality of the company influences the sales revenue variance. Historically, due in part to seasonal holiday demand, a company's fiscal year's first quarter usually results in higher net sales than the prior quarters. New products and services may also have a significant impact on net income, sales expenses, and operational costs. The timing of product launches can also affect the company's net sales as indirect distribution channels usually get extra stock following a product launch and commonly observe a decrease in channel inventory of an older product as the launch of a newer product approaches. Net sales may be impacted by the anticipation of suppliers and customers for a new product.

The following sections have been divided up in the document: Sections 2 and 3 introduce the PEST Analysis, a method for examining external factors that have a significant impact on Apple's profitability; By concentrating on the elements and evaluations offered in Section 3, Section 4 conducts a SWOT Analysis, which employs diagrams or tables to analyse the risk faced by Apple, Inc., and Section 5 offers a complete review of Apple, Inc.'s strengths, weaknesses, opportunities, and threats. The sources are included in the last section.

Literature Review

Apple Computer, Inc. develops, manufactures, and retails a wide variety of add-ons, such as a line of portable digital music players, in addition to computers, software, networking tools, and other accessories. The Macintosh family of notebooks and desktops, the iPod portable media player, Mac OS X, the iTunes Store, the Xserve G5 server, and the Xserve RAID family of storage devices are all part of Apple's extensive product line (Chen, Liu & Gong, 2021). The Apple TV, Apple Watch, Apple Beats, HomePod, iPod touch, iPad OS, and Marcos are all examples of Apple's products. Services for Mac, iPhone, and iPad are also offered. Apple's e- commerce and distribution channels include the Apple Store, the App Store, the Mac App Store, the TV App Store, the Watch App Store, and Apple Music. The company's operations span the globe, from the Middle East and Europe to the Americas. HQ Apple may be found in Cupertino, California. In FY2020, the company's fiscal year ending in September, sales totalled US$274,515 million, an increase of 5.5% over FY2019. The company's operating margin was down from 24.6% in fiscal year 2019 to 24.1% in fiscal year 2020. Financial Year 2020 net margin was 20.9%, down from FY2019's 21.2%. The markets for the company's products and services are highly competitive, characterised by factors such as aggressive price competition, which puts downward pressure on gross margins; the regular introduction of new products and services; short product life cycles; shifting industry standards, continuous improvement of the product's price and performance characteristics, the quick adoption of new technologies by competitors; and price-sensitive consumers. Several of the firm's competitors undercut it in the market through illegal distribution of counterfeit goods, copycat services, and other forms of intellectual property theft, as well as through cheap prices and aggressive pricing policies of their own. AOL Inc., BlackBerry Ltd., CSG Systems International Inc., Dell Technologies Inc., Fujitsu Limited, HP Inc., LG Electronics Inc., Line Corp., Logitech International SA, Microsoft Corp., NetApp Inc., PC Connection Inc., Rogers Communications Inc., Samsung Electronics Co., Ltd., Sony Corporation, and Toshiba Corporation are just some of Apple's most formidable competitors.

Figure 1: Previous Stock Price

Source: (Onoz & Giachetti, 2023)

Figure 1 depicts the rise in Apple's share price from the end of 2018 to the beginning of 2020. As May 1, 2020 rolled around, the standard value skyrocketed from around $60 per share to $134 per share at the beginning of 2021. A significant driver of the rise in stock valuations is the emergence of technology firms like Tesla. Even while the iPhone makes up around half of Apple's yearly sales, the debut of the iPhone 12 in September 2020 underscored the product's significance in the company's line-up. Apple's stock price reached its greatest point in the preceding three years at that moment. Thus, the next sections employ PEST Analysis, SWOT Analysis, and Financial Analysis to evaluate Apple Inc.'s market competitiveness.

Results and Discussion PEST Analysis

A management method known as Political, Economic, Social, and Technological (PEST) analysis is used to evaluate external influences and determine how to adapt to a changing environment (Cox, 2021). Also, it is a useful tool for international corporations to determine how external macro events affect them.

Table 1: PEST Analysis Matrix

Source: Smarandache (2022)

Political Influences:

Apple is subject to both positive and negative political pressure. Apple's revenue might rise if free trade policies are improved. According to Yao et al. (2019), the economic problems brought on by COVID-19 can only be solved by global free trade agreements. New Free Trade Agreements are being negotiated by the British government, for instance, with countries like Australia, New Zealand, and the United States. In order to increase the global reach of its products, Apple is expected to sign up for permitted craft agreements.

The growth and profitability of Apple's overseas sales might be jeopardised by the ongoing trade war between the United States and other nations. China and the US, two of Apple's most important markets, both have political issues right now. If China puts higher import duties on electrical goods, Apple would be disadvantaged. In the current political context, Apple faces both opportunities and threats.

Socioeconomic Variables:

The global economy is essential since Apple is a multinational enterprise. The distribution of vaccinations is thought to hasten the recovery of the world economy. It is anticipated that the global budget would expand by 5.5% in 2021 and by 4.2% in 2022 (Huang, Tian & Zhao, 2022). Apple may expand as a result of the world economy's revival.

Apple seems to be paying more attention to how quickly emerging countries are developing. By 2020, Apple's income in the Asia Pacific region is expected to increase to $19,593 million from $15,199 million in 2017. As a result, Apple gains a lot from both national and international economic expansion.

Socio-Cultural Factors:

In conclusion, societal issues have a big impact on how profitable Apple is. Sales at Apple increased 11% overall, and they surprisingly announced growth and expansion in every industry and region. In spite of the 2020 COVID-19 pandemic, this was finished. People desire tools to help them work, learn, and have fun as a result of people studying and working from all over the world. For MacBook and iPad devices, the recent societal shift has been quite beneficial. Because of the rising demand for electronic gadgets, Apple therefore has a chance.

But Apple is coming under growing international criticism. For instance, many Chinese consumers are choosing native brands over international ones because they support them and find them to be more affordable. Apple's evolution is thus being impacted by external social factors.

Technological Factors:

Lastly, technological breakthroughs often provide Apple with additional opportunities. Apple views the growing popularity of cloud computing as a commercial opportunity. The company is only able to provide 2 TB of I Cloud storage per user. As cloud computing technology advances, Apple's cloud service offerings might become more profitable. According to these projections, from $32.7 billion in 2017 to $53.7 billion in 2020, Apple will generate more money from services.

But Apple is up against other companies like Google, whose new technology is gaining traction. Because customers will have more alternatives in this market, Apple may face competition.

SWOT Analysis

A business's "strengths, weaknesses, opportunities, and threats" are referred to as its "SWOT" factors (David, Creek & David, 2019). By emphasising these aspects and presenting judgements in the form of graphs or tables, it is utilised to analyse the risks faced by a firm. This is a thorough examination of Apple Inc.'s advantages, disadvantages, possibilities, and risks (Table 2).

Table 2: SWOT Analysis Matrix

Source: (Yusuf, Saiyed & Sahala, 2022)

Apple’s Strengths

There are several qualities about Apple that make it successful. With its stellar reputation and massive consumer base, Apple will maintain its $241.2 billion valuation in 2020, making it the most valuable brand in the world by a significant margin. In addition, the number of loyal clients already stands in the millions and is only expected to expand. Apple is at the forefront of technical innovation because of its dedication to R&D. Apple has been around for a long time, and throughout that time it has consistently produced amazing goods that alter the world (iPhones, iPads, and Macbooks). Apple's products have the most original, innovative, and recognisable looks on the market today. One technological edge they have is the maturity and reliability of their operating systems for personal computers and other technological gadgets. iOS is the second-most widely used mobile OS in the world. The intuitive layout of IOS makes it a breeze to use, and it consistently delivers top-notch performance in games and other applications.

Apple’s Weaknesses:

In spite of this, it's no secret that Apple's prices may go into the several thousand dollars. As high-end technological gadgets cost an arm and a leg, Apple's products are usually thought of as being reserved for customers in the middle and upper classes. Without a doubt, the absence of potential low-income client groups is what causes Apple's high selling price. Apple's lack of advertising is another important drawback when compared to Huawei, Xiaomi, and Samsung technologies. It is obvious that Apple's marketing strategies cannot be sufficiently adjusted to local conditions throughout the world. The media has swayed Chinese consumers to prefer items from competing firms over Apple. Apple's financial report states that falling sales in China are a key cause for concern for a multinational technology company. Another major issue is Apple's incompatibility with third-party hardware and software, which forces Apple product owners to buy nothing but Apple products if they want to keep utilising their gadgets.

Apple’s Opportunities:

I Cloud, Apple Music, Apple TV, and iTunes, to mention a few, are all quantifiable digital products and services that Apple has offered its customers as the service sector enters a new age. According to Apple's annual report, the share of revenue generated by services is expected to increase between 2017 and 2020. Apple will attract customers' attention and make a number of new services more relevant to their lives when it actively advertises and releases them. Intelligent wearable technology will also increase in popularity worldwide. In 2022, the market share for smart devices is projected to reach $27 billion, with sales of more than 233 million units. Apple has the potential to grow in the smart wearable market, as seen by the continued success of products like the Apple Watch and Air Pods. Moreover, the mobile industry has shown tremendous autonomous growth. Apple has a chance thanks to the advancement of autonomous driving technology. Instead of developing a conventional driverless vehicle, perhaps Apple will devote more resources to developing and improving AI.

Apple’s Threats

Globalization is a defining feature of the contemporary period. The supply chain is highly intertwined, with intermediate items making up more than half of all commodities moving internationally. The global technology market for Apple Inc. is seriously threatened by the coronavirus epidemic, which will cause disruptions. Many people know that Apple relies heavily on factories and distributors in China. On top of that, the gross margin will still be affected by the tariffs that remain from the trade war between the US and China. Furthermore, Apple will face increasingly stiff competition in the future from global corporations such as Huawei, Samsung, and Amazon.

Financial Analysis

To ascertain the sales data for each location and product, this examined Apple's yearly financial records throughout the financial analysis phase. The bar tool may be used to generate a distribution chart for either numbers or percentages. Table 3 presents a breakdown of Apple's revenue by reportable geographic areas, including the Americas, Europe, Greater China, Japan, and the rest of Asia-Pacific. The distribution of sales revenue in the Apple region is depicted on a map in Figure 2. The y-axis displays the corresponding years, while the x-axis displays Apple's million-dollar income. Apple's net sales data is also included in Table 4 by product category. The revenue split across Apple's reportable product categories is depicted in Figure 3 as a bar graph. It will analyse the present state and potential future sales prospects for Apple Inc. in light of these facts and tables.

At the beginning, table 3 and figure 2 indicate that the United States is Apple's largest client base, accounting for the highest percentage in 2020 at 45.2%. Thus, Apple cannot earn a substantial amount of income from Japan and the rest of Asia Pacific, which in 2020 will represent 14.8% of all sales. The second largest consumer group in 2020 will be people in Europe and Greater China, accounting for around 39.5% of total sales. It may imply that the size of the Apple market, the competitiveness of the corporation, and local demographic bases are the causes for the differences in sales from different areas. Apple's exceptional performance in the United States, its home market, needs the massive revenues generated there. Apple has the most smartphone market share in the United States. Apple still generates more than 40% of its net income from outside the United States, despite the fact that domestic sales contribute less to the company's bottom line than they once did. The number of Apple shops in the US is also substantial. Iphones, iPads, iMacs, and other smart technological devices will be on exhibit and for sale at their chain of retail locations, along with a number of custom-built computers.

Second, a number of South Korean high-tech products, such as Samsung phones, have lately launched in other industrialised Asian nations, such as China and Japan. Consider China, where local enterprises frequently manufacture the products that Chinese celebrities promote on family-oriented television programmes and in elevator advertising displays. Apple's sales in a nation with a huge population, such as China, do not surpass those in the United States due to the impact of the media, which encourages Chinese customers to choose other items over Apple products. The remainder of Asia and the Pacific's relatively poor income creation might be attributed to a small local population or a dreadful local economic climate. People in a region with a large income gap, such as Africa, could be more concerned with keeping their bellies full than they are with buying and utilising the latest iPhone model. In Japan, however, there were reports of a new big ageing or low birth rate crisis in the 2018–2019 fiscal year. These factors reflect a drop in the proportion of young Japanese consumers interested in purchasing high-tech items, which may have an effect on the growth of rising businesses like Apple.

Table 3: Geographically Based Reportable Segments of Apple's Revenue (dollars in millions)

Source: (Li, 2022)

Figure 2: Geographical Breakdown of Apple's Reportable Segment Revenue History Stock Price

Source: (Chen, Liu & Gong, 2021)

As opposed to a quantitative evaluation of sales and revenues, the study's second section focused on the percentage of sales success for each product. Figure 3 shows the prediction that the iPhone will be Apple's best-selling product, but when it was discovered that the Service was really Apple's second-best-selling product, the researchers were shocked. The Apple iPhone has become the company's most popular product since its release in 2007. It's common knowledge that the iPhone accounts for over 50% of all Apple sales. Without a doubt, the iPhone represents Apple Inc.'s ground-breaking goods. The mobile phone business was revolutionised by its early versions, which also aided in the widespread acceptance of high- tech smartphones with touch displays. In the middle of the COVID-19 epidemic, the 14th generation of the iPhone, the iPhone 12 series, just made its debut. The percentage of iPhones has gradually decreased from 60.8% to 50.2%, a fall of 2% since the 2018 peak, as shown in Figure 3. This is important to keep in mind.

The proportion of services has grown between 2017 and 2020, the shares of the Mac, iPad, wearables, and home accessories, however, have mostly remained unchanged. There are a number of indications that Apple's services, such I Cloud and Apple Music, are attracting an increasing number of consumers. The new iPhone design can't draw in new consumers or retain existing ones in comparison to the services. In other words, Apple will gain larger benefits if more innovative discoveries, such as iCloud, can be produced and applied to its products to improve customer service.

Table 4: Apple's Revenue Breakdown by Product Category Reportable Segments (thousands of dollars)

Source: Zendle et al. (2023)

Figure 3: Historical Stock Price for Apple Revenue by Product Category and Reportable Segments

Source: (Wang, Shen & Ngai, 2023)

In accordance with Apple's market fields, which include the product category and regional market base components, the current corporate marketing condition of Apple Inc. is the main subject of this financial study. The iPhone, which is offered in the affluent American market, is without a doubt Apple's most lucrative device. Also, Apple Inc. has a great chance to boost sales by raising its advertising spending in important markets like China and Japan. Furthermore, the market for Apple Services is steadily growing. To boost sales and market share, Apple Inc. needs to anticipate the opportunity and seize it.

This article claims that Apple should take into account more local culture in emerging nations due to the company's rapid development in such regions (Tromberg et al., 2020). China is one of the most important marketplaces, and mask culture is one sociocultural aspect that must be taken into mind. Citizens of China wear masks to protect themselves against COVID-19 and air pollution, but since they can't use the current Face ID, this presents a technological hurdle. Apple may have a chance to boost iPhone sales by integrating iris recognition technology. A substantial number of home accessories are being produced by competitors like Google, and in order to compete with them, Apple may also manufacture new wearable, home, and accessory items.

Evaluation

The essay's advantages and disadvantages are assessed below.

Strengths:

Methodology: PEST and SWOT assessments, as well as statistics on revenue generated by geographic location and product category, are used to generate practical suggestions for Apple to increase profit.

The researchers consulted a number of scholarly journals and respected websites for this research, which contributes to its credibility and precision.

Weaknesses:

More customer and market research must be done in order to better understand their answers. All changes should be agreed upon beforehand with the client base and customised to their requirements and preferences in order to reduce consumer complaints.

Further scientific and financial analysis is required to examine the possibility of iris recognition integration into Apple products and the development of other home accessory items. Apple's ability to implement these enhancements is determined mostly by its technological and financial resources.

Conclusion

Many electronic gadgets are constantly being created as a result of science and technology's quick development, and the market rivalry for these goods is getting more and fiercer. In this study, researchers used SWOT, PEST, and financial analyses to evaluate Apple's present position and marketing strategy, as well as the company's potential and future problems.

An examination of Apple's strengths, weaknesses, opportunities, and threats using the SWOT framework revealed the company to be in a strong competitive position thanks to a number of factors. It has a hefty price tag, a lacklustre advertising campaign, and isn't compatible with many other software packages. In order to take advantage of the potential in a number of fields, including green energy and autonomous driving, the corporation must make use of its quick innovation processes. Apple faces several threats, including the Coronavirus, tough competition from other well-known companies, and the fallout from the trade war. The team also carried out PEST research to determine the exposure of Apple in this article. Both good and unfavourable politics-related things have an influence on Apple. In order to allay concerns about trade disruption, Apple, for instance, may profit from free trade policies. The global economy must rebound after the distribution of vaccinations for Apple to see economic growth. Moreover, societal aspects have a huge influence on Apple's profitability. Apple has access to a wide range of technological options, enabling the corporation to create services and goods that are more valued. The financial analysis of the article shows that by examining Apple's annual sales and the percentage of each product, it is clear that America is the company's strongest market and that the iPhone is its best-selling item. Apple will continue to give this industry priority, though, since the share of its annual income that comes from services has been steadily growing.

The rate of return on these suggestions is difficult to quantify for this study. This study skips over the expenditures and technological advancements necessary to incorporate new technologies into Apple goods and produce items for Apple's home accessories, in addition to the analysis of how consumers would respond to these changes. As a consequence, an analysis of the expenses related to putting these changes into place will be done, and questionnaires will be used to find out how the target clients react.

Conflict of Interest

The authors affirm that they do not have any conflicting objectives.

Acknowledgement

The authors are thankful to the institutional authority for completion of the work.

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