Innovation

[Name of the Institute]

Innovation

Introduction

In the context of the contemporary global business sector the level of competition has increased drastically. The phenomenon of globalization has caused the consumer base to become high quality and brand aware. Due to these developments the customers demand high quality products and services for the respective companies, which are relevant to their personalized needs. In this highly customer centric and competitive business environment the companies have to rely on quality and innovative oriented strategies to ensure that the customer base can be established (Desouza et Al, 2009). The customers in the current global business environment are not influenced by the traditional brand loyalty forces, and their consumption behaviors shift as per their demands alters. The companies have to ensure that they are able to identify the relevant demands of the customers and offer the services which are differentiated for eth rest of the competitors. In the current business environments several examples can be taken for the innovation oriented organizational strategies.

Discussion

Apple Inc.'s Blue Ocean Strategy

The IPod product lau8nched by Steve Jobs led Apple Inc. represents as one of the most successful products in the global market, in recent history. The predominant factor which led to the global success of the product was not based on the type of product, because there was several digital music playing mobile devices already present in the industry (Battistella et Al, 2012). The source of the success attained by Apple was the innovative marketing and branding strategy developed by the iconic leader of the company. Instead of focusing on the cost leadership strategy which the rest of the competitive brands present in the global scenario were adopting, Jobs decided to build a high quality brand image for the IPod. This was a blue ocean strategy as there was no high quality and high priced music playing device available in the global market. This innovative strategy allowed the company to differentiate the brand form the rest of the competition and achieve success on the global scale. This innovative and blue ocean oriented strategy which was initially applied on the IPod has become a trademark for Apple Inc. It has been implemented on the majority of the products launched by the company and has helped develop Apple into one f the most attractive and globally renown brands present n the recent history.

The innovation led blue ocean strategy of Apple is not only focused on the product features and marketing strategies, as it is also applied on the various services offered by the company. The management has decided that the global customers are more conscious about the quality features of the Apple product and services and they would be willing to pay extra for the innovative and high quality products. This approach has helped the company develop itself as a high quality product and service provider, for which it can charge premium charges (Teece, 2010). The competitors of Apple on the other hand focused on the cost leadership approach, and after the success attained ...