Apple is the brand behind some of the most expensive electronic products in the world. They’re a trillion dollar company that makes more money than the United States government.
Its newest smartphone, the iPhone 11 pro, costs a jaw dropping $1,379.00. That’s almost half of the fall tuition for some Sheridan students. But most Apple costumers don’t seem to mind the steep price. AppleInsider.com says that the iPhone 11 models have an estimated 47 million units sold.
With these phones being as expensive as they are, why are people still buying Apple’s products? The answer is simple. Brand loyalty.
iPhone 7s, iPhone Xs and iPhone 8 plus
Apple has very loyal costumers. The Business Checklist says that Apple has five reasons why it’s customers are loyal to the trillion dollar company.
- Constant updates and improvements
- Branding
- Quality of products
- Range of products
- Costumer experience
Joshua Silva, an Apple employee says that the company takes a big interest in its customers and treat each and every one as a top priority.
“When you walk into an Apple store, you’ll see at least five employees on the floor and that’s not counting the other two employees behind the counter dealing with costumer tech issues. We like to have that many people working to make sure all costumers have the opportunity to be helped. The last thing that we want is for someone to leave the store unsatisfied or feeling like we rushed them.”
Business Insider says that Apple has 492 stores, operating in 19 countries.
“No one else on the market has our brand loyalty because they treat their relationships with their costumers as a transaction. But we don’t. We try to form a level of trust between us and the costumer so that they know we’re here to help them regardless of if they buy a product or not,” said Silva.
Although Apple’s range of products is impressive, their competitors such as Samsung and LG have a wider range of products, even branching in to home appliances. But, when it comes to other tech products and services such as phones, laptops, computers, earbuds and tech accessories, Apple is almost unparalleled. Apple also recently announced its new television service Apple TV +, launching on November 1, 2019.
Apple’s growing success can be attributed to its iPhone sales. The iPhone has seen a price increase of 120% since its original release in 2007.
Maria Constantinou, a student at Ryerson University, is a self proclaimed “Apple enthusiast.” She says that she’s only owned Apple products and will never switch to another brand.
“I’ve owned every iPhone since the iPhone 4s and I own a MacBook Pro, MacBook Air and the regular Mac computer. I also own a pair of Air Pods and I plan to subscribe to Apple TV + when it comes out. I love everything about Apple. Having products from a different brand just feels unnatural to me.”
Apple Insider says that Apple achieved a 91% loyalty score with a satisfaction rate of 85%, according to a survey by Fluent marketing firm.
“I think what I like the most about Apple’s products is that all the products are connected to each other. There’s a setting that allows a picture that was taken on my phone to be saved on my phone and all my other laptops so it’s backed up on four devices. Whatever one device can do, the others can do too and everything is backed up in to the cloud so when I need to buy another phone or laptop, everything is transferred with just the click of a button,” said Constantinou.
Statista.com says that Apple has a brand value of 309.53 billion dollars in 2019, compared to its original value of 15.98 billion in 2006.
