Apple is the most valuable company in the world by market share. It is currently valued north of $700 billion dollars. It took Apple over 4 decades using winning business tactics to get to that mark. Here are 6 business tactics employed by them that you can incorporate into your business.
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Create a full stack experience. Apple is notorious for not only creating the best products but also having the best service and support. The Apple Store is also part of that experience; they want customers to have the best experience in buying their products as using them. The packaging they use also gives the best experience when opening up a new product. Their full stack experience also extends to the microscopic level as they create their own SOC processors for products such as the iPhone. A full stack experience is the sum of the parts and Apple perfects each part of the stack to give a superb experience.
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Worry about the small details. When you use an apple product such as the Macbook Air, Macbook Pro or iPhone; you get an attachment to the product. This attachment comes from Apple thinking about the small details, many other companies glance over. So think about what small details you can improve about your product or service that would make your customer fall in love.
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Cannibalize your products and services with newer and better products and services. Remember the iPod, it was one of the best selling Apple products. However very few people buy an iPod right now. Apple cannibalized iPod sales with the iPhone. Think about newer product/service(s) you could introduce that could do that.
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Take bold risks. For the longest time Apple was just a computer manufacturer. That all changed when they introduced the iPhone in 2007. They made a huge bet on iPhone as they diverted their best people from other projects to work on the iPhone. That bet as we know paid off.
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Learn to say no. There is a saying at Apple, “for every yes there are thousand no's”. Apple regularly flirts with many different prototypes for products, however it says no till it finds the right one. You can also see this by the fact that you can put their entire product line on a table.
- Be Laser Focused. Apple is laser focused on delivering the best experience and products to their customer. They ignore the distractions and focus on things that will enrich their customer experiences. They double down on what they are good at. Businesses should also be laser focused on their core and double down on their core strengths.
