External and Internal Environmental Analysis Essay - 4

External and Internal Environmental Analysis - Essay Example The world certainly operates in an era where the need to come up with efficient and reliable technology is of primary importance. Thus, Apple has no choice, but to go for innovation in order to meet the requirement of the society that constantly of in great demand for new innovative technologies. Considering that every nation has to protect its economic status, employing government policy is the usual trend. Thus, it is remarkable that Apple has to abide by the rules and regulations of every nation where there is a high need for its product offerings. On the other hand, as Porter suggested, in an industry, there must be five forces, which include, new entrants, substitute products, bargaining power of suppliers, bargaining power of buyers, and rivalry among existing firms (Porter, 2003). Apple has to face the competition. That is the reality. At present, there are small scale new entrants and new brands in the industry that try to compete with Apple’s product offerings. There are also various substitute products around, which could be the great result of rivalry among existing firms. As a result, this increases the bargaining power of suppliers, because of the ongoing competition. In addition, provided that there are many firms out there like Apple which are competing in almost the same segment, the source of raw materials may substantially be a primary factor for profitability and sustainable competitive advantage. As a result, the bargaining power of suppliers is higher due to constant and high demand for raw materials. Apple’s marketing strategy is like no other, for it is the first and exemplary in its industry. Even in its marketing approach, the firm has substantially established an innovative marketing strategy and business model that make it a cut above the other in its industry. As a result, Apple ensures its production