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  • Essay / Apple Business Strategy Essay - 703

    The reason why protecting one's intellectual property is important is because Apple thrives on differentiating itself from the crowd. A key characteristic that sets Apple apart from other companies is its ability to differentiate itself from others. To keep them different, they must protect their assets. Protecting their product will give Apple a natural monopoly because they will be different in the market and have their own software. Additionally, Apple will maintain its profits in the future through its application platform, which will continue to add value to Apple, and by not licensing its software to third parties. Another important lesson learned is that they continue to improve their products, which allows them to continue introducing new iPhone/iPad for customers to create new demand. For example, not introducing all the best features at once and changing a few things while still maintaining the basic concept of the product. At the same time, listen to customer complaints and reviews, such as iPhone screen enlargement. Also its ability to continue to explore new platforms like Apple TV, Apple Watch and possibly an Apple Car in the future. Apple learned to differentiate the prices of its products using personalized pricing and offers.