*Editors note: This blog is from almost three years ago and yet, the company is still going strong as they get ready to unveil possibly the most largely anticipated product yet. Take a look at what we wrote in December of 2013 and how it still rings true today...
Apple earns the title of the most valuable U.S. company on the stock market Thursday! With the heavy losses being seen by nearly every stock on the exchanges, it is not too amazing to see a company that is an icon for everything new and technologically savvy do well on the exchange and even see its value rise above that of oil giant and traditional head of the exchange, Exxon-Mobil. The markets valued Apple at just under $7 billion over that of Exxon-Mobil.
How does a company stay strong in this kind of vicious market cycle? Well, by sticking to the same common core threads that we here at Holt Marketing and Management Services advise our clients to follow everyday in order to be the best in their market segment.
Here are things that Apple has done and that we tell our clients to do in everything we work and advise them on:
- Customer Focus- if you lose sight of who your customer is and what they want, your company will quickly see the impact in its bottom line.
- Innovation- know what your customer and the public want. Provide them with the latest and best ideas and they will flock to your door. Remember, sometimes the best ideas are not from focus groups but from your gut.
- Surround yourself with intelligent, game changing employees- find those that think differently than you.
- Value- even if your product is considered pricey, service, quality, and meeting the customer’s needs exactly can dictate a price higher than the rest. As long as you don’t let your customers down, your product will support that higher price point.
- Make the public happy- don’t conduct shady deals that will draw bad public attention to you. Try to conduct your business as openly as possible and keep in mind that you will need to handle damage control.
While the oil giant may not let Apple keep its place for long, people know where value lies and though it may lose its #1 spot, it will be valued amongst the best on the exchange because it does those things that every company should be doing from the start.
Want to be more like Apple? Want to increase your customer focus, innovation, and value of your products? Contact Holt Marketing and Management Services for a discussion on what can be done to get you through this market storm and be well prepared to succeed once the rough waters subside. You can even review our Marketing and Sales, as well as Management product pages.