Answer to Question #208356 in Management for restika

Question

Conduct some online research about Apple Pay. You may use this link to gain some background information: https://www.apple.com/apple-pay/

Feel free to do additional research to answer the questions below:

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)

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

Answer 1

1. Apple's value has been created through voluntary trade with customers; it has convinced its customers that its products are worth more than those of its competitors, and clearly their customers agree
2. Intermediary
3. They sort out Apple's financial responsibility like facilitating customers payment.