Business and Money Tips

Apple Inc. has reported the largest quarterly profit ever made by a public company in the world.  Thanks to iPhone 6 huge success, people are now addicted to Apple's products. But as much as 75% of iPhone 6+ (a new product) customers are switching from other phones.  In other words, Apple is not only strong in customer retention but also great in customer acquisition.  And the customers that Apple acquired tend to stick for long.   Apple's strategy is now studied by analysts and is comprised of 4 pillars: Offer a small number of products.  This reduces operations and supply chain complexity and gives Apple greater power when negotiating contracts with suppliers of materials and parts Focus on the High End. Premium products yield premium profits.  Apple focused on customers that are not price sensitive and are inelastic to demand; in short, people who can afford it and willing to pay the high price.  This is because Apple's customers are more i...