You can adopt these product strategies out of Apple’s playbook to make your business grow.
It’s no surprise that Apple has kicked off 2012 with a bang. Profits are soaring, its stock price is up by more than 80 percent, and the new iPad has been touted as one of the company’s most successful product launches in history, which is saying a lot considering the tech giant’s recent history.
What has made product launches at Apple so successful, and what can you learn from them to benefit your own business? Here are three important lessons.
1. Price your products to customer segments.
Often lost in the anticipation of Apple’s launch events are the subtle changes the company makes to its product portfolio. When Apple launched its most recent iPhone a year ago, it reduced the price of its 3G version to $99. During its most recent launch of the new iPad, it reduced the price of the iPad 2 by $100. In both cases, Apple established a market for additional customer segments.
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