Apple Inc. is a multinational technology firm based in the United States that specializes in electronic goods for consumers, software, and online operations. Apple is the world’s most valuable firm and the world’s largest technology company by sales which is totalling at $274.5 billion in 2020.
This digital giant APPLE is well-known for its high-end goods such as the Macbook or the iPad, and iPhone. However, many people’s ambitions of owning an Apple product are unattainable. Here the question also arises “Are Apple products Worth the money” If a picture of Apple’s silver Macintosh is in front of someone, they will recognize It right away no matter what corner of the globe they belong to.
The two-dimensional outline is instantly recognizable around the world and is associated with iPhones, MacBooks, and technical advancement. Customer retention, word of mouth, and trust are all factors that result in Apple consistently receiving high ratings in satisfaction polls. Even for cross-platform developers, Apple’s excellent reputation makes iOS the preferred platform.
Apple’s reputation for excellence makes it easier to break into new markets. Apple products are well worth the money for those who appreciate the user experience and network. For many of Apple’s most loyal users, ease of operation and seamless connectivity between products and systems are more crucial than personalization flexibility. Users of iOS devices should expect consistent user interaction across platforms, but Android users can anticipate more diversity and freedom in overall phone choices.
So, if you’re thinking about buying an Apple product, bear in mind that you’ll be paying more for the experience than for the technical factors like more processing power or a better display, all the while not missing out on such factors as processing power and a better display. On closer inspection, Apple is a more dependable product in terms of quality and security.
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Here are a few factors which you might want to consider to get a better understanding of Apple’s Worth:
Scope of Resale
Let’s say you want to upgrade your Apple device or replace your present one with a new one. You may receive a lot better bargain for an Apple product than you can for any other device. The resale value of iPhones, iPads, and other Apple goods is significantly higher than that of any other device. You’ll be able to resale your devices for a better price once it ‘s time for an upgrade. Furthermore, because Apple products are so renowned, these gadgets tend to sell much faster.
In general, people believe that an Apple smartphone is more secure than an Android device, which is accurate to some extent. iOS provides more frequent upgrades across all devices, a more constrained environment that is more difficult to gain access to, and a more restrictive app store. It becomes much more challenging for attackers to reach iOS users when all of these data are combined.
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Is Apple Worth it?
Unlike other mobile companies, Apple has made it easy to recognise one of its iPhones by maintaining a consistent style and design. This helps to increase brand recognition. Here’s why Apple is spreading like wildfire worldwide. Although the consistency of Apple is a one-size-fit approach, the localised branding of the company is internationally successful.
Log into the website of Apple and you will be able to visit customised sites designed for over 100 countries. It is important for all of your target markets to locate products and marketing information, and the success of Apple is a crucial example. Apple also adapts its stores according to their location.
The company has over 500 Apple stores around the world and is designed to suit every single one of the areas the company is present in. The brand has said the company “surrounds the shop with an inviting attraction that matches their culture and the environment.” Brand Quarterly reports that the former vice president of retail business Bob Beidgerspoke.
It’s “out on the street,” and it’s about feeling that the local people feel.” The simple truth that the company is nearly non-existent on certain social media platforms demonstrates Apple’s global reputation. If Apple continues to keep its messages and motives constant worldwide and address the emotions of consumers and geographical regions around the world, it is possible that the brand will grow and remain in the game well into the future.
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Why are Apple products so expensive?
Here are a few reasons why Apple products are priced the way that they are:
After sale services
Whenever you receive complaints about your Apple products and go to the next service centre, you will notice that officers in these centres treat you very carefully and welcome you very warmly. They will immediately notify you of your phone complaints, and repair the telephone. This is because they already have a big brand on the market and millions of people trust them. That’s why they can’t allow their company to break their trust. A customer filing a complaint against the product will have a massive impact on their company. Hence the intense care about customers arises. This company pays their staff at the service centres enormously.
In order to inspire them to buy the product, commercialization is not just limited to the advertising of the products and the services to the end clients, it also involves determining the completeness of the channels on the niche market of a product or service as well as promoting it across the potential customer. It creates product awareness, has an efficient marketing strategy, and focuses on the development of the product needs among other market segments. This is exactly what Apple is known best for.
The OS interface
Unlike android which gets its OS readily made and for free from Google, Apple’s OS is developed by the company from scratch, which makes it feel custom-made for Apple fanatics.
Symbol of class
Apple’s main target customers are not really the middle of the lower class of people in the economy, but the upper classes of people in the economy. Hence Apple has maintained its image as a luxury brand or a symbol of premium/luxury lifestyle. Every brand has a target customer/ a position in the market and Apple’s aims are at the top.
Here’s a short story about how much the brand and its higher-ups value quality and creativity. When Steve Jobs was presented with the first prototype of the iPod by the engineers, Steve jobs scrutinized it thoroughly and rejected it. To emphasis the possibility of making the IPod more compact and sleek, Jobs dropped the iPod in an aquarium which resulted in air bubbles coming out it, the air bubbles showed that there’s empty space in the IPod and there’s more potential in making the product more compact. This shows the Brand’s dedication to achieve a level of perfection never seen before. Apple does not compromise on the quality of its components and builds.
Research and Development
Apple comes under the big 5 brands and this reputation is not an easy feat to achieve. Unlike many other brands in the market, Apple is heavily invested in research and development to find more and more ways to make its brand more top-notch. Since Apple emphasizes highly on making its products unique, it has to focus on designing and manufacturing all of its components on its own and from scratch, they do not copy any of its competitors. One of the prime examples of this is its safari browser which it developed from scratch.
Chain of products and their compatibility
Apple offers a wide range of products like the MacBook, IMac, iPhones, and IPods etc which can replace all kinds of devices in your house. Not only the vast choices of products but these devices are all compatible with each other making the complete shift towards Apple products seem much more easy and appealing. Both the hardware and the software are equally optimized for increased compatibility which is missing if you take a closer look at the compatibility between windows and android due to the fact that two different companies own it.
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At the end of the fiscal year of 2020, Apple’s net worth was 65.34 billion dollars. As of March 15, 2021, Apple’s market capitalization was estimated at around 2.08 trillion USD.
Prices of Popular Apple devices:
Apple might not sell the most amount of phones in the market but their net profit is the highest in the market. Apple’s profit margin is higher than its counterpart in the android market, Samsung. Apple’s profit margin was 79% which was quadruple times more than Samsung which stands at 18% only. This heavy profit margin is again invested into marketing and improving the quality of its products. Android smartphones are available for as low as 100 USD or 7000 Indian rupees whereas IPhones start around 700 USD or 40,000 Indian rupees. IPhones are more preferred by people who enjoy the consistent software updates, ease of usage and flagship quality.
Mac computers are known for being compact, design-focused, and simple to operate. This has been fostered as a result of the company’s vast and wildly lucrative marketing strategy. This is evident when comparing Macs to Windows, despite the fact that Macs have less than a sixth of Windows’ market share. When Mac computers initially came out in the 1980s, designers lauded them as the most user-friendly devices on the market. Because of the wide range of options provided by Windows manufacturers nowadays, this is more of a personal preference than a truth. Apple does not sell as many PCs as other brands but since it focuses more on quality hence exorbitantly high prices. A Macbook starts at an exorbitantly high price of 1000 USD. A simple HP laptop costing around 500 USD can cover all the functions a Macbook does.
Apple Inc.’s iPad is a line of tablet computers that run the iOS and iPadOS mobile operating systems and are created, developed, and sold by Apple Inc. IPad starts at around 500$ or at 25000 Indian rupees.
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Is the IPhone overpriced?
It’s becoming more and more expensive to be an Apple fanatic. Many Apple products are increasing in price faster than inflation – even quicker than the cost of prescription medicines or attending college. When it comes to Apple’s most essential product, namely iPhone, however, Americans prefer the more expensive option. While Apple isn’t raising prices for all customers, it is extorting more revenue from regular upgraders.
There was a period when an iPhone was arguably far superior to a flagship Android handset, owing to the fact that Android as an operating system was still in its infancy. Times have undoubtedly changed, and there are now a number of Android phones that are arguably superior to the latest iPhones. Even while the iPhone outperforms the average Android phone in a variety of areas (camera, battery, customization, etc. ), the average iPhone still costs a lot more than the ‘equivalent’ Android phone. So, how is it that Apple is still able to charge such a high price for its phones?
Peer pressure, aspirational psychology, and creative marketing have all contributed to the iPhone’s continued success. Even though Apple has been accused of failing to innovate for years, peer pressure, aspirational psychology, and brilliant marketing have helped kept the iPhone at the top of its game for a long time.
Similarly, the iPhone isn’t the most expensive phone of all, despite its high price, which works in its favour as the phone to own after you’ve “made it.” However, it is the priciest phone in its class. Hence the aspiration to withhold and uphold the luxury and prestige status of the brand. The more accessible it gets for the lower and the middle-class people, the more it goes against the motive of making the brand a symbol of luxury.
Apple also does price-fixing which means Rather than allowing shops to profit from iPhone discounts, Apple effectively pays them not to.
Apple avoids having to compete with shops that offer their products at reduced rates by maintaining high prices in the market. Rather than allowing merchants to profit from discounts on the iPhone, Apple effectively compensates them for not doing so.
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