MKT 421 Product Innovation and Market Strategy: Brain-Computer Interface and the Future of Communication Technology

Page 1 of 7

MKT 421 Product Innovation and Market Strategy: Brain-Computer Interface and the Future of Communication Technology - Page 1 preview image

MKT 421 Product Innovation and Market Strategy: Brain-ComputerInterface and the Future of Communication TechnologyAnalyze Apple's current strategy in the context of its product innovation, pricing, andcompetitive positioning. Using a SWOT analysis, assess the strengths, weaknesses,opportunities, and threats that Apple faces in relation to its potential new product offering (abrain-computer interface device). Additionally, apply Porter's Five Forces framework to evaluatethe competitive dynamics Apple encounters in the smartphone and wearable technology markets.Discuss how these factors could shape Apple's future strategy.Word Count Requirement:1,200–1,500 words

Page 2 of 7

MKT 421 Product Innovation and Market Strategy: Brain-Computer Interface and the Future of Communication Technology - Page 2 preview image

Page 3 of 7

MKT 421 Product Innovation and Market Strategy: Brain-Computer Interface and the Future of Communication Technology - Page 3 preview image

Product, Pricing, and ChannelsMKT 421NameDateInstructor

Page 4 of 7

MKT 421 Product Innovation and Market Strategy: Brain-Computer Interface and the Future of Communication Technology - Page 4 preview image

Strategy and PositioningOverviewApple Inc. incorporated in 1977. Their business model has been design, production andpromotion of personal computers, messaging and communication devices, mobile media, laptopsand other portable digital equipment. The company also produces a wide range of associatedsoftware applications, secondary merchandise and services; the most well known among these:iPhone, IPod, iPad, Mac Book, IOS and OSX systems. Apple recently purchased a seed companyfrom Silicon Valley that focuses on smartphone applications and sells products and software togovernment buyers (Reuters, 2014).Computers have existed for several decades. Essentially, the computer, as we know it, isa very crude substitute for an external brain. No computer on Earth has ever been able toapproach the complexity and capacity of the human mind. Technology’s attempts to simulate thecomplexity of even a small segment of the brain still seem overwhelmingly futile. In light ofthese limits, one logical solution is to develop a device that will join forces with a user’s mindrather than competing with it. One might assume that the characteristics of such a device wouldbe present too much complexity; however, it may be very simple. Much like a computer orsmartphone, the brain runs on electricity.The chemical reactions that occur when we produce a thought create a reaction within ourbrain cells (or neurons). This electrical impulse releases chemicals (neurotransmitters) which inturn control the degree of energy of other electrical impulses. It is this impulse which controlsthe level of release (and type of) neurotransmitter that will influence the next electrical impulse.The psychiatric world commonly refers to this process as neural “firing.” It is commonknowledge that these electrical impulses can travel to a set of electrodes when attached to the

Page 5 of 7

MKT 421 Product Innovation and Market Strategy: Brain-Computer Interface and the Future of Communication Technology - Page 5 preview image

scalp of a subject. The key to harnessing and controlling how a thought is captured and translatedlies within this practice. If a smart phone is able to translate refractory periods, it may be able todecipher thought through an interface.Controlling machinery with thought involves capturing the thought impulse. Eachimpulse would travel to a receptor center which developers would model after a neural receptorcell. The idea of communication is to transfer thought to another person. The interface that cansend a message directly to another person’s brain might, at some point, circumvent the need for adevice (Oxbridge Biotech Roundtable, 2014).SWOT AnalysisStrengthsStrengths of the Offering.The biomedical engineering aspect of a prospective device is fairly straightforward. Thedeveloper could model the non-invasive device link to the brain after the EEG and neuro-prosthesis mechanisms. The primary goal is to eliminate typing and speech through the smart-phone and either accepting or rejecting the reproduction of the thought, prior to transmitting themessage to the recipient. This will enable the user to avoid miscommunication or unintendedwords or messages. To accomplish this, the built-in receptor would also function as a filter orthought sifter. If this device is intuitive, it may, at some point, develop the capability to “auto-sift” as the program learns what thoughts the user tends to transmit accidentally and whatmessages he or she wishes to convey in a given circumstance or to a certain contact (OxbridgeBiotech Roundtable, 2014).Strengths of the Company.

Page 6 of 7

MKT 421 Product Innovation and Market Strategy: Brain-Computer Interface and the Future of Communication Technology - Page 6 preview image

Apple’s strengths lie in its reputation. The company’s marketing and advertizingcapabilities are strong, and its production, manufacturing and distribution is available throughnumerous channels in the United States.WeaknessesWeaknesses of the Offering.The capability and knowledge available in the area of neuro-prosthetics as it relates toelectronic based non-invasive technology is not as abundant on the biomedical engineering side.Understandably, devices that are exclusively for medical purposes hold a position of priority inthis field of research. The efforts to establish adequate manufacturing and testing might be achallenge (Michigan News University of Michigan, 2014).Weaknesses of the Company.The weaknesses of Apple are in their product span, pricing levels and in their deliveryconduits in Asia and India. The company also demonstrates limitations in area of productinnovation, which this offering might help to remedy. Another of Apple’s major weakness is insystem compatibility. Compatibility with software and hardware systems is a major challenge, asis the overall integrative functionality with other operating systems. This weakness may shedlight on the company’s heavy dependence on iPhone, iPad and Mac Book sales (Reuters, 2014).OpportunitiesOpportunities of the Offering.The offering would address the challenge the company has been enduring with regards toinnovation and advancement. It would also possibly be a viable alternative to the iPhone andiPad and would offer the market an alternative to these products; thereby diminishing thedependence that the company has on iPad and iPhone demand. The product would be a huge

Page 7 of 7

MKT 421 Product Innovation and Market Strategy: Brain-Computer Interface and the Future of Communication Technology - Page 7 preview image

advancement in technology and, if developed well, may eliminate and preclude competition foran indefinite period of time; which would boost profitability and share prices tremendously.Opportunities of the Company.Opportunities for Apple are mainly in the areas of acquisition of other similar companiesin the market space, mobile payment capability, and clip-on gear. The biggest opportunity forApple (or any company in its sector) is the discovery and development of a product that, like theiPhone, becomes a product that consumers covet more than any other device. That has alwaysbeen the ultimate opportunity in this market space.ThreatsThreats to the Offering.The threats exist mainly in patent claims and resulting lawsuits. There are othercompanies and research groups who are working on similar technology. Competition threatsexist with these same groups. Other companies or developers may seek patents or have alreadyreceived pending patents on similar technology (Reuters, 2014).Threats to the Company.The company is currently “king of the mountain.” Apple has a strong market share andindustry position at the top; other companies want to push it down and take its place. Thecompany is perpetually attempting to innovate with the same products. The competition is thebiggest threat at the present time. The companies that pose immediate threats are Microsoft,Android, Nokia and Samsung (Reuters, 2014).Competitive analysis of the organizationIt is important for any organization to thrive and succeed in their business markets. It isalso vital for these particular firms to develop the need to analyze their competitor’s needs and

Preview Mode

This document has 20 pages. Sign in to access the full document!

Report

Learning Tools

Writing Tools

Browse Resources

MKT 421 Product Innovation and Market Strategy: Brain-Computer Interface and the Future of Communication Technology - Page 1

Study Now!

Document Details

Related Documents

MKT/421 Strategy and Positioning Paper

MKT 421 Blue Ocean Strategy Paper

MARKETING MIX MKT 421: Marketing And Change

Full Family Sensational Hair Salon And Day Spa Service And Target Market Development - MKT/421

PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421

MKT/421 Beaulyn Cosmetic (Marketing Plan)

MKT 421 Perceptual Mapping Complete

MKT 421 Perceptual Mapping

MKT421 Map the Supply Chain Paper

MKT 421 Blue Ocean Strategy Paper

Company

Explore

Study Tools