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Follow Apple Strategy to transform your Business
Most of us love the brand ‘Apple’. The world loves the iPhone and all its products.
Apple understands how to deal with emotional buyers and logical buyers.
So all in all, there are two principles behind Apple’s massive success.
— Firstly & the First part is, Apple understands the desires of tech-savvy customers. So they strongly follow INNOVATION in technology each year.
So, INNOVATION is the ‘First and the Foremost strategy’.
What is Innovation ?
The process of translating an idea of an invention into a service or product that creates value or for which consumers will pay is called innovation.
— Secondly & The Second part is, they understand how to MARKET their INNOVATION to their niche consumers.
What is Marketing ?
The process where producers communicate the benefits and features of their products and services to the customers is called marketing. There are mainly two ways of marketing. Internal and external.
Internal Marketing : The company’s own human resource must believe in the new product or service before it is launched into the wider market.
External Marketing : Conveying the benefits of the product or service to the wider market through product positioning, pricing, communication and advertising, sales channels and more.
Explanation
For any business to grow-Innovation and marketing is the secret sauce. Yes, that’s right.
Innovation(1st) and Marketing the Innovation (2nd) also called the ‘Apple Strategy‘ is the pairing of business’s favorite terms. And to any business–They should be the core functions. As innovation can only succeed with marketing, just like for product success, marketing needs innovation.
In a nutshell, innovation and marketing need to be instilled in the product cycle’s every phase. The needs of consumers change along with the market itself as new competition comes. Hence, innovation and marketing is an ongoing method which goes hand in hand with the product cycle.
What happens if we don’t follow Apple Strategy : The Failure Story of KODAK !
One famous company that faced failure due to an unwillingness to innovate and therefore market is—Kodak. In 1975, the company’s chief engineer, Steve Sasson, invented the first digital camera. However, because the camera was without film and the majority of its revenue at the time was to sell film, Kodak’s management dismissed it outright.
Kodak could have been at the cutting edge of innovation, but instead was totally disrupted by the market as it failed to adapt to a new marketplace and new consumer attitudes and sadly, filed for bankruptcy in 2012.
The secret to long-term growth!
As it is already widely known, nine out of ten startups fail. Additionally, every year 30,000 plus new consumer products are launched with over 80% failing. Below-mentioned are the main reasons as to why
Consumer orientation : There is a dearth of background research and information on the industry, market, consumers, users and their needs.
Unproductive strategies : Strategies that don’t fit the industry, company, product, service and market-timing.
Foresight : If a company is not willing to innovate and their potential becomes obsolete or limited.
Hence, its clear, First Innovation and then Marketing the Innovation is the only and sure shot way to conquer the mass adoption barrier and indeed, it is different as it takes a strategic approach to offer personalized and embedded marketing for long-term success, not just short-term gain and instant (ROI)—Thereby ensuring productivity, profitability, and customer success stories.
Final Thought
First Innovation and then Marketing the innovation play a significant role in making the brand ‘Apple’ huge.
So the takeaway and what businesses should learn is– “Adopt firstly Innovation and then Marketing the innovation” in your business, so you can have a massive turnaround.”
Writer is a well known Astro Strategist and Business Astrologer.
