Executive Summary
Apple Inc. was founded in 1977 and is a technological company which manufactures as well as markets personal computers, portable music players, media and mobile communication devices. Additionally, the company sells several related software, accessories, services, networking solutions, digital content and other applications. The company’s target market segments include America, Greater China, Europe, Japan, and the rest of Asia. The most common products that the company manufactures include iPad, iPhone, iPod, Apple TV and Apple Watch. It is also important to mention that the company sells digital content and applications via the App Store, iTunes Store, Mac App Store, and Apple Music. Most remarkably, Apple is known for combining art and technology to come up with unique products that have offered stiff rivalry to competitors such as Microsoft. Most of the products have been popular among young people because this population has a relatively higher obsession with fancy products. Perhaps the products of the company do not resonate well with the older generation because they are adamant to change. The key figure behind the success and popularity of the company was Steve Jobs, who inevitably was inseparable with the company.
The Data Analysis Challenge
One of the most prominent data analysis challenge for Apple Inc. has been market analysis for its products. That concerns finding out how different people in different companies purchase or relate with the company’s products. In analysis of Variance (ANOVA) tests, many companies are usually interesting in finding out how different products are received by the target consumers. It is usually about comparing how the specific products are purchased so that the company puts focus on one or comes up with measures to improve demand of the product.
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To delve on the specifics, Apple has had a challenge on analyzing the Indian market in regard to their products. According to Reuters (2016), many companies such as Nokia and Samsung are making a significant amount of revenue in India. On the same note, Goel & Raj (2018) posits that India has a high potential as a market for technological products. One of the reasons is that India has a high population, especially, a high number of young people. Such positive statistics made Apple Inc. to consider India as one of the most prominent markets for its products. Apple Inc. has a unique business model where mobile phones are sold to telecommunication companies which consequently discount them to customers in exchange for data purchases.
According to Reuters (2016), Apple Inc. is ranked as the tenth smartphone manufacturing company in India. Such a rank is a failure considering that Apple Inc. ranks among the prominent phone manufacturing companies in the US, and Europe. It is this variance that the company had a difficulty in investigating. Presumably, since the company is a global brand, it ought to have the same success in any part of the world. It is for this reason that Apple’s new CEO, Tim Cook visited India to analyze the market in an attempt to reduce the barriers and make the brand popular.
First, Tim Cook established that Apple’s business model does not resonate with the Indian market. The telecommunication companies in India do not sell and distribute mobile phones. Secondly, Apple’s products are more expensive compared to products manufactured by other companies considering that a significant number of people live on less than $3.00 per day. Thirdly, the Indian president has introduced a policy where Indians are persuaded to consume products made in India.
Conclusively, the tools used in analyzing the variance in the market presented in the article are expert analysis. Before the visit conducted by Tim Cook, the company relied on passive reports, which indicated a positive situation in India, which evidently did not favor Apple’s business model. The visit conducted by Tim Cook is akin to a primary tool of analysis. The interview that Tim Cook conducted with the Indian president was an effective tool of analyzing the true situation of the market. Therefore, the most effective method of conducting analysis is through collecting primary data, which makes the variation in different markets to be understood best.
References
Goel, V., & Raj, S. (2018). India Extends Hand to Apple and Others by Easing Rules on Foreign Firms . Nytimes.com . Retrieved 16 June 2018, from https://www.nytimes.com/2018/01/10/technology/india-retail-apple.html
Reuters. (2016). Here's Why India Will Be Such a Challenging Market for Apple . Fortune . Retrieved 16 June 2018, from http://fortune.com/2016/05/24/india-market-apple-tim-cook/
