Apple’s iPhone 5 is the latest example of Apple’s market dominance in the smartphone arena. Marketed to consumers as the thinnest, lightest, fastest and most powerful iPhone ever, Apple has once again taken their game to the next level. By producing a better product in the lineage of the most popular smartphone of all time, they have effectively kept ALL of their competitors at bay…again.
Oh yeah…it’s not even being sold yet.
So what can you learn from Apple’s release of the iPhone 5?
1. Always Know You Can Do What You Do Better
Apple has successfully created a large line of “handheld” products that have serviced the digital age. Beginning with the revolutionary iPod that literally changed the world and growing into and eventually overtaking the smartphone market, one thing has remained consistent: Every new generation device is better than before.
There really hasn’t been any device that came to market that consumers gave the collective “meh…” to. The only thing that has been close is the iPhone 4s, but even that had Siri and people were raving about that single feature. Apple proves over and over again that they are on the cutting edge of the industry and they continually make what they do better.
2. Understand Your Customer Base
One thing Apple realizes more than any other large company is that people expect something from them. The consumer base is conditioned to begin salivating around September every year and subconsciously yearning for something new.
Knowing this and providing the people what they want when they want it has done more good in solidifying their core consumer base then random product experimentation or waiting too long to release a new version (see RIM) and making people go into “Apple withdrawal”. Trust me, that would not be a pretty thing (think zombies, apocalypse, etc.)
3. Throw Conventional Wisdom Out With ‘The Bathwater’
Conventional wisdom would say that it is not super smart to continually produce a product that essentially cannibalizes the market share of your previous product, but Apple does this with every new generation of iPhone. Apple iPhone owns the market share and there really isn’t a close second, which means the majority of people purchasing iPhone 5 will be iPhone 4 users.
But Apple has never claimed to be conventional. The are concerned only with being the best at what they do. Their focus is narrow and their standards are high. People respect this type of market strategy, especially when the output is consistently strong.
Conventional wisdom is generally subscribed to and thus will make you be like your competitors. It is better for you to understand your identity and pour all you have into it.