1. Defining MarketsOther companies try to capitalize on demand; Apple innovates and creates the demand.
See also Innovation Secrets of Steve Jobs, and A Brief History of Apple. Apple's track record of turning out industry-changing products is the stuff of legend. But how, exactly, has Apple managed to consistently attract early adopters who are willing to wait hours in line to drop hundreds of their hard-earned dollars on the newest version of a device they just bought a year earlier, even as the economy fizzles around them? With each new release of Apple's iconic iPod digital music player and its descendants, the iPhone and the iPad, consumers have rushed out in record numbers to snatch up the latest Apple gear. The company's products seem to be surrounded by a magical aura that has kept them flying off of shelves despite the seemingly endless string of hits to the U.S. economy. The answer goes beyond the devices themselves. Everything about Apple—from its legendary product design and peerless customer service to its charismatic founder’s keen market instincts and shrewd business innovations—contributes to the fact that its products appear to be recession-proof.
Tony Kontzer is a freelance writer for Baseline magazine.
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