Answer to Question #202079 in Management for Manish

Question

Answer the following questions:

1)   Outline how Apple Pay creates value for its customers (5 marks).

 

2)   With respect to Apple Pay, is Apple a producer, a consumer, or an intermediary? Explain. (5 marks)

Identify all the reasons why Apple’s partnerships are essential to the success of Apple Pay. (5 marks

Answer 1

Answers:

1)   Outline how Apple Pay creates value for its customers.

Apple Pay serves as both a middleman and a manufacturer because it is accountable for the technology it installs. Apple, one of the top three most powerful companies in the United States, is using its platform to make its payment system available to the general public. Apple created this technology, and it is hoped that it will become industry standard. Apple Pay serves as both a middleman and a manufacturer due to Apple's responsibility for the technology it installs. Apple is one of America's top three most powerful companies, and it is using its platform to make its payment system available to the general public.

2)   With respect to Apple Pay, is Apple a producer, a consumer, or an intermediary? Explain.

Apple is an intermediary because Apple is the middleman between Apple Pay's services and Apple's clients, I believe Apple Pay is a middleman. Apple Pay has developed a new sales platform to improve the efficiency and effectiveness of consumer purchases. "A link in the supply chain that connects the producer or other intermediate with the final consumer," according to the book. Apple is the manufacturer in this scenario, Apple Pay is the broker (or middleman), and the customer is an Apple Pay user.

3) Identify all the reasons why Apple’s partnerships are essential to the success of Apple Pay.

Apple Pay's capacity to acquire more customers is dependent on its partnerships, as forming alliances with high-profile companies attracts more attention. The more places that accept Apple Pay, the easier it will be for the technology to achieve its full potential. They aren't provided hardware, though, because Apple Pay isn't yet integrated into most workplace systems. This type of service is only provided by firms like Starbucks. Apple Pay is a new type of financial transaction in which a firm tries to use Apple's devices to complete a transaction. As a result, forming alliances benefits the company by attracting new clients and promoting their brand across industries and around the world.