The company is focused on becoming the market leader in the electronic and technology industry globally. According to the former chief executive officer, Mr. Steve Jobs, computers provided by Apple should be on every desk in the next 8 years. Apple Company will persist in offering innovative and revolutionized brands to its customer to meet their short term and long term demands. In addition, the company will continue to enhance its corporate social responsibilities to create a positive image in the eyes of the public (Janson, 2008). Currently, Apple has a wide target market that covers young customers aged between 12-35 years who are music fans.
Additionally, its market includes city dwellers, upper and middle economic class, university students and media professionals (Chien, 1986). As a result, the company has generated high revenue that stands at 156,508 billion US dollars. With more than 390 stores in 14 states, Apple market capitalization stood at approximately US$630 billion as of October 2012. Under the current leadership of Tim Cook, Apple has embarked on the production of more brands to reinforce the ones established by the former CEO Steve Jobs (McKee, 2009).
Some of the major company brands in the market include Mac, iPhone, Apple TV, iPod, Ipad and software among others. PESTEL (Political, Economic, Social, Technology, and Legal) is one of the market audit frameworks that companies emulate to identify the effects of external environment on their current market position. Being a vital tool for understanding decline or growth in the markets, Barney and Hesterly (2008) argue that PESTEL assists marketers in environment scanning that is fundamental is strategic management. This section identifies key external factors that have played part in the operations of Apple Company. One of the major political aspects that influence a current market position for Apple is an international relationship between the US and other countries.
According to company 2007 financial report, 52% of the company sales were outside the US.
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