iPhones, iPads, iWatch, MAC, iCloud, iTunes.
If there is one bigshot that puts out almost everything on success, ‘Apple’ is the name that perfectly fits in. Despite offering products at high price rates, this company witnessed an exceptional growth rate from 2004 to 2018. Starting from its incredible fan-base to product differentiations, everything falls under Apple’s business strategy and walks side-by-side with its profit margin.
In 1977, Apple II was the first desktop computer that marked the foray of Apple Inc. in the electronic market. Remember, Apple didn’t only restrict itself in computer manufacturing or designing. The leadership skills of Steve Jobs influenced its expansion in the digital music player, digital content management, and music store. Finally, the introduction of iPads and iPhones catapulted its further growth in the industry.
Pillars of Apple’s Business Strategy
Apple has always been focusing on product utility and design. Two of these aspects have evidently raised their standard in the competitive market. Surprisingly, this company has tactfully adapted to some smart practices that transformed the brand into a treasury land.
Apple has never found it essential to drop a lot of its revenue on Facebook or Google for those PPC ads. Instead, their strategy always turns towards buzz creation through decisive media reviews and product replacement flexibility. They’ve repetitively embraced some free trial programs where they only asked for some positive testimonials from clients.
Most entrepreneurs live with this belief (a fake one) that they have to join the race on pricing. The truth is far away from this strange perception. Strange, because raising the price level unnecessarily turns the other way around and leaves a direct impact on your profit. Additionally, Apple Inc. pressurizes on their Unique Value Proposition which works completely out of the track with mini-packaging.
Incredible Fan-base with a Higher Pricing Strategy – What’s Apple’s Secret?
Take some smartphones at best buy, for example, both with the 2436 x 1125 pixels and 5.8-inch screens. Where a Samsung smartphone with these features costs around $720, an iPhone will charge you more than $1200 for providing the same features. The price difference goes even higher once you shift to a better electronic gadget like the MacBook.
Most brands see their products as competitions and announce a particular killer specification through different content marketing mix. Whereas, Apple sits back and aims to perfect the entire product line. As a result, they grab more customers with exclusive specifications and top-of-the-line features. In fact, they offer product variations under different price rates which makes their production room more like an electronic showroom.
Apple knows that customers, fond of electronic gadgets, have the nature of getting overwhelmed. Keeping that in mind, the company uses straightforward terms and continually brainstorms the features that customers seek or can be thrilled by. Undoubtedly, this brand believes in the ultimate sophistication, which is simplicity.
Almost every modern brand has role-modeled Apple’s business strategy as their career path and is proceeding gradually towards success. The purpose is not to mimic the brand operations but to understand how it does so much on earth.
at camera holding the digital tablet
