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Among the many companies that have increased in the volume of operations and the brand value, Apple occupies a significant place. According to the data from ratings, the companys brand value has grown from 23344 in 2011 to 214396 in 2018, which is the highest brand value among the fast-growing companies ( Top 15 Best Global Brands Ranking (2000-2018) 00:03:10-00:05:42). The influence of macro-economic factors might explain the reasons behind such fast growth. In particular, technological forces have played a significant role since the company functions within the realm of informational technologies and artificial intelligence devices. These spheres have undergone rapid advancement during the past two decades, which has created a favourable environment and competitive advantage for firms involved in technology. Also, socio-cultural and demographic forces have triggered Apples success. It might be explained by the growing trends in smartphone and digital gadgets use within the past decades. In addition, the trends in indicating a socio-economic status via device use have influenced the increase in Apple products sales.
One of the competitive products manufactured by Apple is an i-watch or Apple-watch. This device is designed to include multiple functions ranging from mere time-telling and communication tools to health indicator analysis. Despite its multiple benefits, the product has spheres for redesigning ideas. It has been identified that some functions, such as the arm lifting movement that wakes the display that is perceived ambiguously by users (Statt). Another aspect is the social implications behind using a smartwatch, which include status manifestation and the mixed signals of boredom one might send to a communicator when lifting an arm and watching the time (Statt). Therefore, the company might redesign the product to meet the requirements of the consumers.
Works Cited
Statt, Nick. The Awkward Days of the Apple Watch are Over. The Verge, 2019, Web.
Top 15 Best Global Brands Ranking (2000-2018). YouTube, 2019, Web.
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