MINDSET with Gambrah Sampeney Kwabena Adjei: The paradox of affordability, accessibility and availability

In today’s fast-paced, technology-driven world, businesses are constantly seeking innovative ways to stay ahead of the competition. Amid the gloomy predictive analysis, three crucial factors have emerged as the linchpin of success: Affordability, Accessibility and Availability. These A’s have proven to be the holy grail of business survival, enabling companies to thrive in challenging times.

However, one company, Apple, has dared to defy this conventional wisdom.

Affordability, accessibility and availability are the cornerstones of modern business.

Affordability ensures that products are priced reasonably, making them accessible to a wider audience.

Accessibility guarantees that customers can easily reach or obtain products, while

availability ensures that products are readily available for purchase.

The Internet has further amplified the importance of these A’s, making them the driving force behind every successful business.

Yet Apple’s latest launch, the iPhone 16, seems to contradict this fundamental principle.

Priced at a premium, the iPhone 16 is not affordable; but its accessibility and availability are unparalleled. The device’s launch was met with unprecedented hype, with customers queuing to catch a glimpse of the new product. Despite its high price point, the iPhone 16 sold out quickly, leaving competitors like Huawei in its wake.

Huawei’s flagship Mate XT tri-folding phone, launched around the same time, was affordable, accessible and available but it failed to generate the same level of excitement or sales as the iPhone 16.

This raises a crucial question – how does Apple manage to defy the conventional wisdom of Affordability, Accessibility and Availability?

The answer lies in Apple’s unique approach to business.

By focusing on creating a premium brand experience, Apple has successfully decoupled affordability from the equation. Customers are willing to pay a premium for Apple products due to their perceived value, design and ecosystem. Apple’s strong brand loyalty and customer retention strategies also ensure that customers remain committed to the brand, despite the high price point.

Furthermore, Apple’s mastery of accessibility and availability has enabled the company to maintain a strong market presence. With a vast network of retail stores, online platforms and partnerships, Apple ensures that its products are easily accessible to customers worldwide.

In conclusion, Apple’s success can be attributed to its ability to redefine the traditional business wisdom of Affordability, Accessibility and Availability. By focusing on premium branding, customer experience and strategic partnerships, Apple has created a loyal customer base willing to pay a premium for its products. As the business landscape continues to evolve, companies would do well to take note of Apple’s innovative approach and adapt their strategies accordingly.

The post MINDSET with Gambrah Sampeney Kwabena Adjei: The paradox of affordability, accessibility and availability appeared first on The Business & Financial Times.

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