Today’s mini case I would like to introduce Apple. Nowadays, nearly everyone know the Apple. People will be excited when they know the new product launched. To talk about innovation, you will definitely associate with Apple because Apple will make new product every year. However, today I will talk about the innovation of business model of Apple which lead Apple to the one of the most successful companies in the world.
At the end of the 1990s, Apple’s old business model seemed like almost lost market and nearly went bankrupt. At that time, they offered hardware and software which push Apple to a difficult position in the market.
Apple had push out a brand new business model which was extended to another market. The brand new products which are the new iPod, iTunes in 2001 and iPhone in 2007. Not only the product innovation, but also a new source of revenue which is iTunes platform that change a different way to download the music for iPod and iPad. Because of these changes, Apple generates revenue of $5 bn / quarter in 2015 worldwide. The target customer has been extended and the new product has been change the life style of customer. Apple is a perfect example of the innovation business model.
Reference
Franz Emprechtinger (2016). What is a business model innovation? [ONLINE] Available at: http://www.lead-innovation.com/english-blog/what-is-a-business-model-innovation
Michael Lindberg (2017). Business Model Innovation: How Did Apple Get It Right? [ONLINE] Available at: http://download.lindberg-international.com/blog/business-model-innovation-itunes
[IMAGE] Available at: https://www.apple.com/
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