Transcript:
There’s no doubt that Apple made a tremendous impact and single-handedly shaped a big part of the world we live in today it’s most iconic innovation was the iPhone the touchscreen was cool but the true revolution was the App Store when Apple opened it up to developers a year after the launch of the iPhone the number of apps started to grow exponentially what happened next is basically our modern world thousands of mobile apps which make our lives easier and generate billions of dollars of revenue powered by countless technology startups that create millions of jobs around the world if you were wondering why Apple gets so much praise well now you know before we begin don’t forget to subscribe to my channel and click that Bell button to be notified about my next videos which will be all about the best business strategies of the most innovative companies besides the App Store revolution Apple was basically an innovation engine it started with the iPod then iTunes the Mac operating system the iPhone the iPad and so forth every time it was coming up with something new that made its way into most of the households and that competitors copied as soon as possible to not lag behind if we were to do a business model canvass for Apple we would actually need to do it product by product because the company is too huge with many different focuses but there are several characteristics that underline most of them and create the general image that people have of Apple they definitely create a lot of innovative hardware which are typical product innovations if you followed my business model innovation course you know that this kind of innovation is the most complicated to achieve because it requires a lot of R&D expenses and it gets quickly copied by competitors as soon as it makes a hit so next thing Apple uses to differentiate itself is designed Apple is often referred to as a design company in contrast to a technology company it’s obviously both but it just shows how good Apple is at designing beautiful stylish products that make visual impact also its products are known for their reliability even though Apple mates serious mistakes just like most companies do the mac OS for example is known to be more stable and reliable than Windows finally Apple puts greater attention to customer care even the simple fact that Apple stores exist and you can go there to get reliable help reassures a lot of people but all these comes at a cost are in the expenses a reliability high quality design and personalized customer care make Apple’s products significantly more expensive than its competitors but thanks to this approach Apple managed to generate the brand image and loyalty required to have your customers keep buying your overpriced products over and over again and what happens when you sell expensive quality products well that’s when you cross into the luxury territory that’s what allowed Apple to sell the Apple watch so much better than any of the companies that actually came up with this innovation in the first place Apple realized that watch is much more a fashion accessory than it is something of practical value so they decided to combine both for the Apple watch and make it a high-quality technological fashion product with some luxury versions priced at more than $10,000 so that’s when Apple got slapped with another label after the technology company at the design company it became a fashion company but the problem is that Apple is running out of innovation scheme even though it keeps introducing products that quickly become the norm like the airport’s the iPhone is still the workhorse that generates more than half of all its revenues being so much dependent on one product is risky sales of the iPhone are struggling and despite all the billions of cash reserves that sit on Apple’s bank account there is no sign of another disruptive innovation in the making and as more and more competitors also start to offer reliable and beautiful products more people turn to the alternatives as the quality gap keeps narrowing it seems like Apple is destined to become a more normal kind of company unless it prepares some surprises for now it keeps increasing the revenue generated by its services category like the App Store Mac App Store or Apple music Apple pay and Apple care and that’s where investors hope for sustained growth but during the 2019 conference Apple also announced something that might define where it is going next besides all the small incremental innovations and Apple signature move $1,000 screens than the usual unnecessarily overpriced product is the sign-in with Apple that generated the most attention AB developers for the App Store will now have to integrate the option to sign in with Apple ID in addition to any other subscription option they propose and other websites or services will be able to provide this option as well and if users choose Apple ID their data will be protected nothing will be transmitted to the developer not even your email address if you prefer to hide it this will have many consequences sign-in with Apple will be just like sign in with Facebook or with Google the problem with both Facebook and Google is that their business models are based on advertising and their sign-in features are designed to add another way to track their users online and target them with ads something that more and more people find creepy so we get more concerned with our personal data and there’s a growing demand for privacy focused services and although Apple did make mistakes when it comes to users privacy it’s still much better positioned and benefits from a much higher level of trust from consumers when it comes to their data when face book talks about privacy everybody’s loving and raw in their eyes right so it seems like Apple just took on another banner to become a privacy company and answer this demand another feature that goes into that direction in iOS 13 is the ability to give location access to apps on a one-time-only basis when you turn off the app it can’t track your location anymore if this privacy turn works out more people will be attracted to Apple products and services to keep their data safe and that’s how Apple plans to attract more users inside its own ecosystem of many convenient products while protecting your personal data and not monetizing you as an ad target that’s a direct attack on Google and Facebook and potentially a new source of girls for if you enjoyed this video do click that subscribe button and don’t forget to click the bell as well to be notified about the new ones also write me your comments below what do you think how much do you care about your personal data if Apple indeed becomes safer and more trustworthy will you switch to its products instead of Google and Facebook let me know
Leave a Reply