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

This paper discusses product innovation and market strategy, particularly in brain-computer interfaces and communication technology.

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    MKT 421 Product Innovation and Market Strategy: Brain - Computer Interface and the Future of Communication Technology Analyze Apple's current strategy in the context of its product innovation, pricing, and competitive positioning. Using a SWOT analysis, assess the strengths, weaknesses, opportunities, and threats that Apple faces in relation to its potential new product offering (a brain - computer interface device). Additionally, apply Porter's Five Forces framework to evaluate the 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

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    Product, Pricing, and Channels MKT 421 Name Date Instructor

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    Strategy and Positioning Overview Apple Inc. incorporated in 1977. Their business model has been design, production and promotion of personal computers, messaging and communication devices, mobile media, laptops and other portable digital equipment. The company also produces a wide range of associated software 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 company from Silicon Valley that focuses on smartphone applications and sells products and software to government buyers (Reuters, 2014). Computers have existed for several decades. Essentially, the computer, as we know it, is a very crude substitute for an external brain. No computer on Earth has ever been able to approach the complexity and capacity of the human mind. Technology’s attempts to simulate the complexity of even a small segment of the brain still seem overwhelmingly futile. In light of these limits, one logical solution is to develop a device that will join forces with a user’s mind rather than competing with it. One might assume that the characteristics of such a device would be present too much complexity; however, it may be very simple. Much like a computer or smartphone, the brain runs on electricity. The chemical reactions that occur when we produce a thought create a reaction within our brain cells (or neurons). This electrical impulse releases chemicals (neurotransmitters) which in turn control the degree of energy of other electrical impulses. It is this impulse which controls the 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 common knowledge that these electrical impulse s can travel to a set of electrodes when attached to the

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    scalp of a subject. The key to harnessing and controlling how a thought is captured and translated lies within this practice. If a smart phone is able to translate refractory periods, it may be able to decipher thought through an interface. Controlling machinery with thought involves capturing the thought impulse. Each impulse would travel to a receptor center which developers would model after a neural receptor cell. The idea of communication is to transfer thought to another person. The interface that can send a message directly to another person’s brain might, at some point, circumvent the need for a device (Oxbridge Biotech Roundtable, 2014). SWOT Analysis Strengths Strengths of the Offering. The biomedical engineering aspect of a prospective device is fairly straightforward. The developer 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 the message to the recipient. This will enable the user to avoid miscommunication or unintended words or messages. To accomplish this, the built - in receptor would also function as a filter or thought 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 what messages he or she wishes to convey in a given circumstance or to a certain contact (Oxbridge Biotech Roundtable, 2014). Strengths of the Company.

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    Apple’s strengths lie in its reputation. The company’s marketing and advertizing capabilities are strong, and its production, manufacturing and distribution is available through numerous channels in the United States. Weaknesses Weaknesses of the Offering. The capability and knowledge available in the area of neuro - prosthetics as it relates to electronic 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 in this field of research. The efforts to establish adequate manufacturing and testing might be a challenge (Michigan News University of Michigan, 2014). Weaknesses of the Company. The weaknesses of Apple are in their product span, pricing levels and in their delivery conduits in Asia and India. The company also demonstrates limitations in area of product innovation, which this offering might help to remedy. Another of Apple’s major weakness is in system compatibility. Compatibility with software and hardware systems is a major challenge, as is the overall integrative functionality with other operating systems. This weakness may shed light on the company’s heavy dependence on iPhone, iPad and Mac Book sales (Reuters, 2014). Opportunities Opportunities of the Offering. The offering would address the challenge the company has been enduring with regards to innovation and advancement. It would also possibly be a viable alternative to the iPhone and iPad and would offer the market an alternative to these products; thereby diminishing the dependence that the company has on iPad and iPhone demand. The product would be a huge

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    advancement in technology and, if developed well, may eliminate and preclude competition for an 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 companies in the market space, mobile payment capability, and clip - on gear. The biggest opportunity for Apple (or any company in its sector) is the discovery and development of a product that, like the iPhone, becomes a product that consumers covet more than any other device. That has always been the ultimate opportunity in this market space. Threats Threats to the Offering. The threats exist mainly in patent claims and resulting lawsuits. There are other companies and research groups who are working on similar technology. Competition threats exist with these same groups. Other companies or developers may seek patents or have already received 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 and industry position at the top; other companies want to push it down and take its place. The company is perpetually attempting to innovate with the same products. The competition is the biggest threat at the present time. The companies that pose immediate threats are Microsoft, Android, Nokia and Samsung (Reuters, 2014). Competitive analysis of the organization It is important for any organization to thrive and succeed in their business markets. It is also vital for these particular firms to develop the need to analyze their competitor’s needs and

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