Apple doesn’t hold a monopoly on innovative product strategies. There are key aspects of its successful formula that any company can apply to fuel growth.
With its profits and stock soaring, it’s perhaps never been sunnier in Apple country. Much of that can be attributed to the fact that when it comes to product strategies, few are better. In a guest post for Inc. Karl Stark and Bill Stewart, the Managing Directors and co-founders of Avondale Strategic Partners, chime in on what gives Apple’s product launches their shine and crunch.
One key to Apple’s success often lost in the excitement of its launch events are the subtle product pricing strategy changes it makes to related products in its portfolio. Ex: Reducing the price of the iPad 2 by $100 upon the release of the new iPad. According to Stark and Stewart, “this strategy allows Apple to capture high margins with early adopters and drive penetration among a broader, more price conscious audience at a later date.” For more lessons you can learn from Apple’s product strategies, read the full article here.
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Apple has been quick to argue it doesn’t have a monopoly on eBook pricing, and the truth is it doesn’t have a strangle-hold on product strategy innovation, either. Read this article from OpenView to discover six ways you can reinvent your own approach. And for more on how Apple is dominating the post-PC world, see this post from the OpenView blog.