From Airpods, Macbook, iPhone, iPad, and many other of its products, the Apple product have been on increasing price for customers and as at the time of writing, the company still has a long list of loyal customers who do not care the amount of the latest iPhone or Macbook, they just want to own that product with an eating apple logo behind.
From 2016 when the iPhone 7 came out at $649 but currently, the iPhone 11 is starting at $999, the Apple Mac Mini was 499 about the same year and currently, the new model is sold at $799 and this hasn’t changed for all their products as they give exclusivity and set a standard to customers based on price and this makes customers want to get the product at any cost. Apple being the largest publicly traded company and a trillion dollar company, the market cap of this company is far bigger than the GDP of so many countries combine.
Why has Apple Product Being Expensive?
The company which has built its own ecosystem around customers with its services exclusive to customers, it technological advancement, and quality designs of their product and this has earned the company millions of loyal customers who cannot but wait for the lunch date of the next iPhone after which they will stay on Queue for their phones. Since most youth enjoys Apple and its ecosystem, then they have to pay for what they are getting.
Apple has built a believe system in the mind of customers that if you want to buy an Apple product, you need to spend to get the product and Apple capitalizes on it.
How is Apple getting Customers to keep Buying?
The Apple product are never a complete product which can work on its own. For example, the Apple iPhone always has a phone with low memory, then another same iPhone of the same model can be higher at $100 to $200 difference with an increased memory/storage, the same thing occurs in respect to other products. Also, accessories are expensive in comparison to other product but Apple still finds a way to make customers buy their products by creating a need.
Apple removes important cable ports from their Mac products which leave users to no other option but to get the Apple dongles which are expensive.
Is Apple Expensive?
Apple product are a little more expensive compared to its final selling price. A Sony phone can stand as counterparts to the iPhone as the iPhone Camera was done by Sony and the materials used to build up an iPhone is less compared to the selling price. Apple spends $370 to create the latest iPhone only to sell at over $1000.
The Future of Apple
Apple is going into service very soon. The CEO currently said that customers can now get New phones through paying a little with their previous iPhone. That is service, and Apple is planning is planning to do more.