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The fact that the Apple iPhone X’s pricing has crossed the four-digit mar, should not be seen as a major surprise or anything out of the usual. A look back at one of the all-time leading rock bands Eagles’ reunion concert in 1994 can be cited as an example of how pricing thresholds can be crossed when the end-product is truly worth it. The said concert was priced in the three-digit mark, well above industry averages. Apple CEO Tim Cook has unabashedly declared through this pricing that the product is top notch. The initial hype justifies the pricing however, over time, the sales will increase only once the product reviews match the publicity. The Eagles’ then strategy worked handsomely, as the concert was a huge success and a prelude to their new album release the next year which broke all previous records. Only time will tell if Apple’s corporate strategy works nearly as well.

Source:https://hbr.org/2017/09/the-psychology-behind-the-new-iphones-four-digit-price

Uploaded Date : 06 October 2017

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