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Lessons Learned From the iPod
Thursday, December 29th, 2005 at 2:00 PM - by Brad Cook
In an article hosted on MSNBC's Web site, Entrepreneur.com's Steve Cooper related three lessons that iLounge.com's Jeremy Horowitz said business owners can learn from Apple's success with the iPod:
- "Timing and execution are everything. Being first in an emerging market is neither as important nor as lucrative as designing the right products and services to cater to second- and third-stage growth."
- "A smart company can command a premium for successfully blending off-the-shelf technologies into a new and useful product."
- "Instead of creating a good product and knocking down the price until everyone could afford it, Apple has sold stripped-down versions at lower price points and hoped demand would follow."
Jupitermedia analyst Michael Gartenberg added a fourth lesson: "Apple is not afraid to be bold." As evidnce, he cited the company dropping the iPod mini in favor of the iPod nano, even though the mini was a successful product. Mr. Gartenberg's predictions for future iPod changes include "a redesign of the full-size iPod, optional Bluetooth add-on and an 'iPod sport' model, which he says is long overdue."
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