b) Detailed methodology of the analytical approach
Analyze the benefit of virtual reality for a business- like Apple
The virtual reality or VR technology is the most advanced technology of the modern world which is highly used in various kinds of business organisation such as apple which is a well-known information technology organisation. VR technology has various kinds of advantages for business organisations like apple as it is capable of offering interactive virtual tours for business in various locations of the world. This technology can be highly useful for the apple industry as it can be used for developing various kinds of technology which are on high demand for the modern world. It is very beneficial for the business of apple as apple is a company which deals on the information technology and VR technology is very helpful in the testing of various products and services offered by apple for customers(Lee, et. al., 2018). The virtual technology can be used by used to develop new kind of electronic devices based on VR technology which will create a digital environment for the customers and it will feel like another reality for users. This will be beneficial for the consumers as well as for the company to enhance their profits and benefits from the sales of VR based electronic pieces of equipment. There is a large market for VR technology as it is trending in modern days. VR technology is the technology for the modern days of the world. The world can experience various atmospheres with the use of virtual technology and it will be beneficial for the apple company which can promote the use of VR technology for the modern globe.
Evaluate the influence of VR innovation on consumer and their choice
Virtual reality (VR) is an innovative technology which works on the concept of experiencing the virtual world as the real world. This technology is very famous in the modern-day which is the world of technological inventions. This technology highly influences consumers and their choices regarding the use of technology-based devices. There are various games, movies and electronic devices available which support virtual reality and make consumers feel the reality of the technological world and make them experience a whole new way of life in the virtual world. This is very attractive for the consumers to be influenced by the VR innovation as it is very cool to use and its experiences are very different from the other technological innovations that are being used(Sherman, et. al., 2018). The influence of VR innovation on consumer and the impacts of their choices on the purchasing choices for the use of various types of technological devices which are part of the modern-day living. This has a serious impact on the consumers as the virtual reality is widely used for watching movies, playing games, and other activities which cannot be done at home can be experienced through VR technology. The consumers are highly demanding for the products based on VR technology as an impact of innovation of virtual technology in the choices of consumers. This is the high range of consumers are getting attracted towards the virtual technology on consumers and their choices regarding the innovation of virtual technology in digital and electronic devices.
Anticipate the furthermore suggestions on which apple can work upon
Today’s world is completely involved and absorbed by the use of various kinds of digital and electronic devices which are being used for various purposes in life. Today’s life cannot be imagined without the use of electronics and technology devices. Apple can work upon various aspects of virtual reality which can be beneficial for the organisation and enhancing its business activities for the whole consumer base. There are various fields of technology which are highly demanding for the innovation of VR technology which can play an important role in the innovation of technology. The fields of medicine and architecture are highly demanding for the innovation of VR technology devices which can help in the determination of the situations of medicine and architecture which can help in the smooth functioning of various activities(Moorhouse, et. al., 2018). The Apple Company can innovation the VR technology which can be used for the various fields of organisations to develop a whole new range of market for their devices based on the VR technology. VR technology is a type of technology which can be used for almost every field of work. The Apple can develop of a whole new variety of products which can be used in various types of industries for helping the other industries to face the difficult situations and remove them with the help of the virtual reality technology which contains the potential for resolving of the situations arise which are difficult to be solved by using normal day technologies. This way the Apple Company can step into a new mode of potential for the innovation of the virtual reality technology being used for the whole world.
Challenges with the project:
There are various issues and challenges that are create major impact on the Apple innovation. This is important for company is to focus on problems that may negatively influence its business operations and its functions. Such includes:
Time constraints: Apple face issue related to timeline in which they need to give project within time. If they do not deliver specific project associated to development of VR in products and services.
Ethical considerations: It is the another major issue which are face by Apple in which participants who are involved in this project required to kept privacy and maintain confidentiality of their data(Rauschnabel, 2018).
Availability of data: This is difficult for Apple is to collect required data and information related to the development of Virtual Reality in goods or services.
Research Methodology
It is that process that is used to select, process, identify, and analyze desired data or information regarding a specific theme. The methodology enables readers to evaluate and determine overall study reliability.
Data collection methods
It is the process of gathering accurate data and information for completing the research project. There are two types of data collection such as primary and secondary(Halaweh, 2019). Primary is described as original data which are collected by selected respondents by the use of different sources. On the other hand, secondary data define as a collection of second-hand information from various sources that include books, journals, articles, magazines, newspapers, etc.
In this, secondary sources have been used for collecting and gathering important data for developing the study correctly.
Research design
It refers to the whole strategy which is selected to combine the various elements of the study in a logical way. This is that method that effectively addresses the research issues and it develops a blueprint for the measurement, collection, and interpretation of desired data. There are two types of descriptive and experimental research designs. In this, the descriptive main aim is to describe the population, phenomenon, and situation(Herz, et. al., 2019). This can use a wide variety of research techniques to examine more variables. While experimental is concerned with developing effective study which is a high level of validity.
In this study, a descriptive design of research has been used which helps in describing each variable along with the support of the business canvas model.
| Key Partners
· Investors · Associates · Financial institutes
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Key Activities
· Innovations · Data processing · Development of innovative products
Key Resources · Concern on innovation · Storage data
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Value Proposition
· Innovative solutions · Easy and simple products method
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Customer Relationship
· Attracts customers · Goodwill · Automated facilities
Channels · Social media · Websites
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Customer Segments
organization seeking solutions for business strategy
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| Cost Structure
· R&D · Advertising · Human resource · Technology |
Revenue Streams
· Loan from banks · Sale of products
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d) Conclusion and Recommendations
It can be concluded that innovation with the help of technology plays an essential role in business growth and success. It is important for an entrepreneur is to develop new and unique ideas that are carrying out a revolution in the large market place. The change is portrayed with time on ideas and innovation. The theme of this project is the development of Virtual Reality in Apple products such as tablets, smartphones, and PC. The theme is significant to examine the VR. Virtual reality is the new system that helps companies in developing new innovative ideas to gain the attention of a large number of customers(Kalantari, et. al., 2018). This is directly influenced consumer behavior and attitudes in a better manner. Virtual reality provides effective communication channels and networks between consumers and the product than traditional advertising, marketing, and useful in interacting with clients directly. Apple can use VR for effective marketing and they are focus on increasing customers’ volume to satisfying their needs or wants properly.
From the above report, it can be recommended that virtual reality is an effective technique that helps in doing marketing of Apple products and services among customers. It can assist in creating opportunities for businesses to develop a strong relationship with targeted clients and their brands. There are some recommended points for Apple that are described as follows:
Conduct training and development programs – Apple needs to conduct training and development sessions for their employees so that they can effectively learn how to manage and work on new technology. In this training, they should develop their skills and capabilities which help them in easily manage the VR tool effectively.
Encourage workers to think innovative ideas – It is important for Apple Company is to motivate its employees to develop new ideas so that they can easily attract a wide range of customers towards their latest products and services. For this, the manager also supports their most skilled and experienced staff and works with them to develop innovative products that enhance company growth in the market area.
References
1. Kalantari, M. and Rauschnabel, P., 2018. Exploring the early adopters of augmented reality smart glasses: The case of Microsoft HoloLens. In Augmented reality and virtual reality (pp. 229-245). Springer, Cham.
2. Herz, M. and Rauschnabel, P.A., 2019. Understanding the diffusion of virtual reality glasses: The role of media, fashion and technology. Technological Forecasting and Social Change, 138, pp.228-242.
3. Rauschnabel, P.A., 2018. A conceptual uses & gratification framework on the use of augmented reality smart glasses. In Augmented reality and virtual reality (pp. 211-227). Springer, Cham.
4. Moorhouse, N., tom Dieck, M.C. and Jung, T., 2018. Technological innovations transforming the consumer retail experience: A review of literature. In Augmented reality and virtual reality (pp. 133-143). Springer, Cham.
5. Sherman, W.R. and Craig, A.B., 2018. Understanding virtual reality: Interface, application, and design. Morgan Kaufmann.
6. Lee, H. and Leonas, K., 2018. Consumer experiences, the key to survive in an omni-channel environment: use of virtual technology. Journal of Textile and Apparel, Technology and Management, 10(3).
7. Halaweh, M., 2019. Model of Emerging Technology Adoption (META): Virtual Reality as a Case Study. Journal of Information & Knowledge Management, 18(02), p.1950020.