October 14, 2015 | Written by: Michael Dobbs
Categorized: Industry Insights
Remember the 80s??? Remember the Walkman? It revolutionized how we listened to music. No more loud Boom-Boxes. People started listening to their own music with headphones. Revolutionary!!! Where is the Walkman today? History. Replaced by the MP3 player…or the iPod.
So where’s the iPod today?
Yesterday I walked into an Apple Store. I had to ASK where the iPods are. All the way in the back…on a shelf…with no product out to play with. How the mighty have fallen.
WHY? iPhone have taken their place! Why buy an iPod if you have an iPhone? iPods are no longer sexy. Commodity. Sales have dropped. In a world of iPhones, iPads, Macbook Pros, Airs, AppleTV……. iPods no longer get significant space in the store.
Makes you wonder where the iPhone will be in 30 years….
So is it time to sell Apple stock? NO! Staying relevant is all about knowing your consumer and INVESTING in developing products that they want…need…will go without to own! Apple gets this. They continue to understand and develop for the consumer. They sell products that the consumer wants, even if they make older products obsolete. No matter how big they have gotten, they act as entrepreneurs! Sell when they forget this…
SO … how do you develop winning products and stay ahead of the competition?
- Know the consumer
- Develop product FOR the consumer
- Be entrepreneurial
- Be willing to develop products that cannibalize your business if they fill consumer need.
Where do YOU think Apple will be in 30 years???
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