Creating Value for Customers.
Creating value for customers requires a preliminary assessment of the customer needs concerning the Apple watch. Therefore, in looking at the value, it is important that what is important to the customer is noted and finding out opportunities that will assist in increasing value for the customers. The company focusses on providing better value for the pricing of their products by ensuring that the value proposition tallies with the price of the product in terms of the features of the product. The Apple watch has various inbuilt features that cater for many aspects and not only for knowing the time. It can integrate with most Apple smartphones and can be used to check on the health of the customer and help in fitness tracking.
The mission statement of apple encompasses the different designs of apple products like Macs, which are rated as some of the best computers globally, along with professional, iWork, OS X and iLife. The Apple has been in the forefront in leading the digital revolution in music with iTunes that encompasses online tools and iPod. The mission statement further states the important contribution of Apple to the mobile phone market in introducing various smartphones that include iPhone and the various computing features in the phones (Ross, 2015, p. 93).
It encompasses the customers’ needs in that it points to various services that benefit the customer greatly like music, internet and storage. Such features are in great demand in the market. Therefore, it provides a basic standpoint where the customer is highly appreciated in terms of getting valuable products that are of high quality.
The company’s strength is that it produces great products that are highly reputable and most customers usually come back to buy the products. Apple is a very successfully company in producing of smartphones and associated products (Hart-Davis, 2015). It has a loyal customer base who not only buy the Apple watch but other Apple products as well. A weakness is that the product is too expensive and concentrates on the high-end market. The company’s products are highly priced, which drives away most potential customers. Apple watch creates various opportunities like those that being a revenue stream for its ever-increasing apps number to 3500 plus as time continues. A threat is that there is uncertainty in the market especially since technology shifts faster, and there may be other competing products to the Apple watch that are much cheaper.
Two competitors battling against the Apple watch product in the market are Samsung Gear S and pebble time. Samsung Gear S has various apps that are similar to Apple though they are strongly linked to the Galaxy smartphones ((Udell et al., 2015). The pebble time has more than 6500 apps that help in fitness tracking and health among many other features. The pebble time watch is compatible with Android and IOS operating systems. One-price customers will opt for the Pebble watch, which is much cheaper. The rating for Apple Watch is in the following table with other smartwatches
Samsung Gear S
Samsung is the challenger in the smart watch market while pebble is the follower with apple watch being the nicher since it mostly target the high-end market. Apples is a nicher and thus commands a large high-end market with Samsung challenging it for a large market share.