1. Who are the major competitors? What are their marketing strategies? What are the major strengths and weaknesses of these competitors?
Today, iPhone holds the leading position in the market. However, Apple faces the competition that grows stronger over and over again to challenge the position of its iPhone in the market. The major rivals of iPhone are: Google’s Nexus One, Nokia N900, Palm Pre and others. Nexus One and Nokia N900 are particularly significant rivals because they use aggressive market expansion strategies. Google has a strong position in the high tech industry but the company’s Nexus One is the first experience of the company in smartphones’ market. In contrast, Nokia N900 has an extensive experience of manufacturing and selling smartphones but underdeveloped software. As a result, iPhone’s position in the market is still strong.
2. What are the key trends in the economic environment of the country/region/ local area where the customers are located? How do these economic conditions affect the customer’s ability to purchase the product/service?
iPhone is sold in developed countries only. The company needs to expand its market, especially in developing countries, where the product is also popular but underrepresented in the market. In such a way, iPhone opens the way for its rivals to enter new markets.
In addition, the economic crisis has slowed down the sale rates of iPhones because customers cannot afford or are unwilling to purchase iPhones now. However, this trend is provisional and the product has good prospects in the market.
3. What are the key trends in the social and cultural environment? Are there any changes in demographics, values, and lifestyles that affect the product/service?
iPhone is extremely popular today due to the fast development of internet, information and telecommunication technologies. As a result, iPhone comprises an integral part of the mainstream culture today and it is an efficient tool of communication.
4. Are there any recent technological or political changes that may affect the product/service?
Technologies keep progressing and new products emerge. Therefore, Apple can expect the appearance of new rivals in the market and the fast improvement of existing products.
In regard to politics, the situation is beneficial for iPhone because policy makers are interested in the development of high technologies and fast business development. As a result, the authorities support the development of iPhones and other products, which stimulate fast economic growth.