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Successful Business Model: Apple launches IPhone 5C

In 2007 Apple introduced the original iPhone, and ever since then it has adhered to a standard business formula: Introduce one updated model the following year, discount the previous model and stop producing models that are more than two years old. But this year, Apple decided to shake things up by introducing two new iPhone models.

There had been plenty of rumors leading up to the event that Apple would introduce a lower-cost model called the 5C in addition to updating the iPhone 5.

Still, it raises the obvious question: what does Apple gain from introducing the 5C that it wouldn't get from simply keeping the iPhone 5 and introducing the 5S. The short answer is that:

Apple now has a variety of colorful new phones that are more affordable at launch than any iPhone it has ever introduced; with the hope being that it will attract a wider range of consumers.

"The broader the price range you can present to the market, the more people you are going to get," Van L. Baker, VP and Research Director with Gartner, stated when giving an interview to the online publication Mashable.

A lower-cost iPhone would, in theory, help Apple attract more customers in China and other emerging markets, but analysts now question whether the price Apple set is low enough to really make a difference.

Apple Inc. is a great example of a successful business model. It is willing to adapt their products to new markets and customer demand. We can learn lots about how they started and how they became such a huge company.

It is important when you have a business to identify your audience and your goals. This will help you to identify your customer and engage with them. IPhone, IPad and Mac users are satisfied with the product; therefore they are faithful to Apple and when they need a new device they trust again in the brand. It is important to create good quality products but it is also important to bear in mind the customers' budget.

You can see Jobs movie (non-authorized biography of Steven Jobs) to get more familiar with the business model of Apple and to get some tips for your future career.

 

What do you think about the new IPhone? What do you think about Apple's Business Model? Share your opinion with us!

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