Need 500 words and APA format Refer to Assurance of Learning Exercise #1 (Apple) in Chapter One of your Thompson (2020) text. Read “Apple Inc: Exemplifying a Successful Strategy” in Illustration Capsule 1.1. · Does Apple’s strategy seem to set it apart from rivals? · Does the strategy seem to be keyed to a cost-based advantage, differentiating features, serving the unique needs of a niche, or some combination of these? Explain why? · What is there about Apple’s strategy that can lead to sustainable competitive advantage? Submission Details: · Incorporate a minimum of at least one course (Thompson 2020 Text) and one     non-course scholarly/peer-reviewed sources in your paper to support your analysis. · All written assignments must include a coverage page, introductory and concluding paragraphs, reference page, and proper in-text citations using guidelines. 3 quotes are required, and they must be enclosed in quotation marks and cited in-line by referring to your reference list. Purchase the answer to view it Purchase the answer to view it

Apple Inc. has been hailed as a company with a highly successful strategy that sets it apart from its rivals in the technology industry. In Thompson’s (2020) Illustration Capsule 1.1, titled “Apple Inc: Exemplifying a Successful Strategy,” the author analyzes Apple’s strategy and its key elements that contribute to its competitive advantage.

One way in which Apple’s strategy sets it apart from rivals is through its focus on differentiation. Apple has positioned itself as a provider of innovative and user-friendly products that offer unique features and experiences. The company’s emphasis on design and aesthetics is evident in its sleek and minimalist product designs, which have become a trademark of Apple’s brand. This focus on differentiation through design has allowed Apple to command higher prices for its products compared to its competitors, giving the company a significant competitive advantage.

In addition to differentiation, Apple’s strategy also encompasses serving the unique needs of a niche market. The company has historically targeted a specific segment of consumers who value high-quality, premium products. By catering to this niche market, Apple has been able to establish a loyal customer base that is less price-sensitive and more willing to pay a premium for Apple’s products. This focus on serving a specific market segment has further strengthened Apple’s competitive advantage.

Furthermore, Apple’s strategy is not solely based on cost advantage or differentiation; it is a combination of the two. While Apple’s products are generally priced higher than its competitors, the company is able to justify these higher prices through its focus on differentiation and delivering superior value to customers. This combination of differentiation and cost management has allowed Apple to achieve sustainable competitive advantage in the technology industry.

There are several elements of Apple’s strategy that contribute to its sustainable competitive advantage. Firstly, the company’s strong brand image and reputation play a significant role in maintaining its competitive position. Apple has cultivated a brand that is associated with innovation, quality, and prestige, which contributes to customer loyalty and allows Apple to charge premium prices for its products.

Secondly, Apple’s ecosystem of products and services creates customer lock-in and provides a barrier to entry for competitors. Apple customers who own multiple Apple devices and use Apple’s services are less likely to switch to a competitor’s products due to the convenience and integration that Apple’s ecosystem offers. This ecosystem lock-in strengthens Apple’s competitive advantage and makes it difficult for rivals to penetrate their market share.

Lastly, Apple’s continuous focus on research and development (R&D) and innovation ensures that the company remains at the forefront of technological advancements. Apple is known for its commitment to developing groundbreaking products, such as the iPhone, iPad, and Apple Watch. This focus on R&D and innovation enables Apple to introduce new and improved products that keep customers excited and engaged, further enhancing its sustainable competitive advantage.

In conclusion, Apple’s strategy differs from its rivals in the technology industry through its emphasis on differentiation and serving a specific niche market. By combining differentiation and cost management, Apple has achieved sustainable competitive advantage. The company’s strong brand image, ecosystem of products and services, and focus on innovation contribute to its competitive advantage. Apple’s strategy sets it apart from its competitors and positions the company as a leader in the industry.