@TaimoorZ, i completely agree with your comments. Apple's products are as innovative as anyone else's (may be a bit different kind of innovative). But being cool associated with Apple products is a huge advantage.
@Tvotapka, Apple (or atleast Steve jobs) opted for a different approach for their products. Instead of finding out what consumer need through market research they have delivered products based on their guts. Now, i do not know what is the right strategy and how companies start a new product development. But on thing is sure: consumer is as confused in defining what they want.
I think in the case of Apple, it wasn't so much innovation on Apple's part in the design of iPhone as was the influence of the brand name and the status symbol of owning and iPhone. Apple's innovation was restricted to touch screen, better display and a sleek design. What triggered the viral demand was when it became cool to own an iPhone and then on it became a must-have.
I often advise clients to broaden their definition of the term "product." In other words, everyone throughout the organization has a product to deliver; an order processes, an assembly completed, satisfied customers willing to refer others, etc. Having the proper surveying in place assures another key product - market intelligence. When you know what your customer base needs and wants, then you know how to create demand or reach whether you're the first to market or not.
I am of the opinion that the demand for products is often created by improvement in functionality and portability of existing appliances or by creation of a brand new product to meet a need in daily functioning of people in general. Either method ends with a new product that creates enthusiasm and the drive for demand for the product. A little charisma in the presentation of the product (hype!) fuels the enthusiasm for the product.
Bolaji, you mention the strategy to create demand before supplying the product. I agree this sounds like a strong marketing manouver. But I am intrigued how a product company can create of identify clear and quantified demand before it actually decides to manufacture the product. What is it that Apple has been doing differently. Maybe, it was the Jobs effect where he presented every new product in the most charismatic way possible? How much did he have an impact on creating an exclusive demand for Apple?
Apple products sell like hot cakes because they are not only innovative but also fast, with great features and reliable. At the end of the day, you are always happy with your investment on an Apple product.
I watched the Nokia World with curiosity and expectation. It seemed pretty clear to me that Nokia has a new strategy that might work this time. Creating demand and supply afterwards sounds like the most logical decision, especially these days when consumers think twice before buying a new and expensive product.
Nokia seems to be more focused on supplying the youngest users in developing countries and has spent some time having close ups, creating demand.
@Hospice_Houngbo, Its not surprising. I wouldn't expect Apple's competitors to just fold their arms and not seek a strategic move to not only catch up but compete with Apple.
The theory of demand and supply strategy employed by Apple seems to be catching now, that even RIM and Nokia appeared to have integrated this in their marketing strategies. I hope it works for them too as it did Apple.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.