We all know the company ‘Apple’, in the last couple of years apple has grown to a really big admired brand. But what are the ingredients that make apple a really successful company? Are those the product, like the Iphone and Ipad? Or are their other reasons why apple has more success than other big companies (like Microsoft, Nokia etc.). This is the question we asked ourselves: What is the key to a successful business? In order to explain those criteria we are going to use the company ‘Apple’ as our example (and our explanation). Product:
One of the important things are of course the products. Before apple came on the market: smartphones, application stores and listening to music on your telephone already existed. But the big breakthrough of smartphones came after apple launched the Iphone. for a business it’s important that your product sells, If a product doesn’t sell all the investment money will be lost and it can lead to bankruptcy. In order to sell a product you need the introduce the product first. You need tell what it’s for, what it can do etc. in short you need to tell a story.
Apple is, compared to other companies, a major in telling a story. They don’t throw technical details and specification at you, they will show you in an easy way what you can do with their product. To keep your business going you need to come up with new stuff and products. You need to show to your costumers that you’re still here and that you’re “on top”.
Also to keep the attention of your costumers you need to have something special, something exclusive that no other competition has. If you look at Android :Samsung has launched many “galaxy” mobile phones and LG has produced many “optimus” devices, but for consumers it can be really confusing. One device is not yet appeared in the store and yet the other is already announced. Apple on the other hand keeps their assortment clear. There’s only one ipad or one iphone introduced every time. There are maybe a lot of different versions to it, but the basic design remains the same. Promotion:
Every company spends tons of money on promoting their products. By promoting your products you reach consumers that will buy your products and can influence other consumers to buy your product also. Of course apple spends time by promoting, but because of all the craziness around their new products apple gets tons of free publicities that makes promoting on their own unnecessary. Usual newspapers and news sites certainly know that new facts about apple products are more read than new facts about other brands. Not only do they get free publicity, but apple also knows how to keep the crowd/customers in suspense.
There are no other companies that are so secretive about their new upcoming products than apple. That’s why apple is the biggest company where there are so much speculation about. Well before the new Ipad or Iphone is launched on the market there are already circulating mockups and wish lists to make clear what we expect from the next generation. There is always something to speculate about Apple and that is why the company is always in the news, even as the launch of new products is still far away. Price:
After the product and promoting comes price. You've probably often heard and maybe even said: "I want to buy a Mac, but they are so expensive!". That’s true for €300 you already have a brand new laptop, but for a MAC you need to set aside at least €1000. It’s the same with telephones for a Samsung or HTC device you’ll get it free with a subscription, but for a subscription with an Iphone you usually get charged extra for the device. It is what it is, apple products are just more expensive. But that doesn’t mean you’ll get less for your money.
Apple spends a lot of time and energy on developing their technology. Before a product is launched on the market many prototypes have been made and tested. Apple doesn’t launches products on the market that are “good enough”. The former CEO Steve Jobs was a perfectionist, he wanted his products to be better in every aspect than the products of his competition. He had an eye for detail and that’s definitely what you can see back in the products. Also the design makes the products of apple more expensive besides the technology…. Place:
The products of apple will most likely be sold in places where other electronic products are sold. There several retail outlets that carry various Apple products so purchasing this product should not be difficult. There are multiple Apple stores all over the world: (as example) Australia, Thailand, the Netherlands and of course in the United States. Customers can also order the product online in Apple's website. Amazon, one of the largest online retailers, also carries Apple products. Apple should gauge consumer demand and produce enough in order to satisfy the market.