Apple Watch Series 3: Everything the pros need to know
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If brands want to catapult growth they need options strategy for apple watch bands rethink pricing. Developing new products is essential for growth, but predicting when the next breakthrough innovation will occur is impossible. Investing in branding can take several years to become profitable. Pricing, however, is a different story, and managers across industries are quickly learning it can be their single most effective strategic weapon. At the same time if you price the options strategy for apple watch bands too high you alienate sales and if you price it too low you leave money on the table.
Historically, they have started out high at the launch options strategy for apple watch bands gradually introduced lower priced models during the downward of the product cycle to compete with competition that have been slower and offered lower priced alternatives. Thus maximizing during the peak. However, the upcoming Apple Watch product launch is unusual and will challenge the brand on pricing.
Apple for the first time is waltzing with fashion — a whole new arena outside of technology. Brand equity is built over time and product efficacy usually justifies the premium pricing.
That wide range of options results in a wide range of prices. Below are some of the pricing challenges we foresee Apple having with the Watch:. The question is the pricing strategy — has it been set up for success and long term growth? Below are some of the pricing challenges we foresee Apple having with the Watch: Consumers will have to shell out the full amount to own the Watch.
Tapping a wider audience: The price range for the Watch is extremely wide. Brands usually tackle varied audiences with varied budgets with different brands within the portfolio so that they can customize their products, experience, performance and marketing for the brand e.
Swatch as an affordable option and Omega and Breguet for the luxury option — all belonging to the same company. Technology gets obsolete fast: One of the biggest challenges with technology is that its here today gone tomorrow.