Apple products are expensive. Apple is the most valuable company globally, yet they charge a premium for their products that other companies can’t compete with. Apple fans have to pay more just because of their favorite brand’s logo on the side of the product. Apple has managed to create what marketing experts call “conspicuous consumption.”
Conspicuous consumption is a term used to describe products that are expensive and not essential. Apple has mastered this art, as their products are not only more expensive than their competitors, but they’re also not necessary. You can live without an iPhone or a MacBook, but you can’t live without a toothbrush or soap. Apple’s products fall into the category of luxury items, which have high prices because people want to show off that they can afford them.
What actually makes an Apple product so expensive?
There are other reasons for Apple’s high prices. For one, Apple spends a lot on research and development in order to create new and innovative products. They also have stringent quality control measures, which drive up the cost of production. Lastly, Apple has a powerful brand that they’ve built up over the past few decades. In fact, Apple’s brand is so strong that their fans are willing to pay more than double for Apple products than they would if another company made the product.
Even with Apple’s high prices and quality control measures, there have been many cases where Apple has cut corners due to manufacturing issues or poor design decisions. The iPhone is a great example of this; despite its high price tag, it still had several problems when it first came out on the market, including antennae connection problems and an easily cracked screen (which could cost $150 to replace). There were also production line errors like putting SIM cards into iPhones without activating them or installing microphones incorrectly during assembly. These types of manufacturing mistakes have caused Apple to lose billions of dollars in the past.
Also interesting: Apple Plans Expansion into Business Market
Despite these issues, Apple’s high prices continue to attract consumers. Apple products are seen as a status symbol, and people are willing to pay more for the prestige that comes with owning an Apple product. Apple is able to get away with charging more than their competitors because they have such a loyal fan base that will continue to buy their products no matter what. So, even though Apple’s prices may seem excessive at first glance, there are several reasons why they can get away with charging so much.
Yes, if you’re going to buy an iPhone, iPad, or MacBook, you’re likely to pay a good amount of money. If you make this decision and if you think this is what you want, that’s fine as well. The only emerging problem here is that Apple appears to be spending less on parts and quality assurance compared to earlier years and that your product might not last you as long as it used to.
Also, suppose you made a purchase like that. In that case, you should think about getting insurance coverage for your product if you don’t already have an insurance policy that would cover smartphones or other electronic devices. There’s nothing worse than spending this kind of money only to break your new phone or laptop shortly after accidentally. At least like this, you could still recover from the loss or get a replacement.
In summary, we could say:
- The price of Apple products draw in consumers who want the status symbol associated with them.
- People are willing to pay more for Apple devices because they have the Apple brand on them. No other company could compete against this pricing strategy due to a lack of resources or a different business model. The high cost works well as an investment into building up a strong brand image, which then leads back into profit margins through consumer loyalty programs – even if specific models have had manufacturing defects in the past.
- Apple is able to charge more for its products because of stricter quality control measures and heavy investment into research and development. This has caused them to have a less reliable track record than other electronics companies. However, people are still willing to forgive these mistakes because they value the Apple brand image more than any individual product defect.
It’s all about the brand and the experience
In conclusion, Apple’s high prices come from various reasons that all work together to justify why consumers should be spending so much on their devices. While it’s not an essential purchase like food or water, Apple products offer a unique experience that cannot be found with any other company.
YouTube: Why Apple Products Are So Expensive (Business Insider)
Photo credit: The feature image has been done by jk1991.
