On a mission to land the latest must-have gadget for the tech set, Ken Rosenblum stopped by the Aspen Grove Apple store at 8 p.m. Thursday, 12 hours before the iPhone 5 went on sale.
|Scooped by Nandy Lihandra|
Apple iPhones are a great example of consumer behavior. Apple has this incredible strategy that's got people waiting in lines for the latest product, which has started since the first iPhone came out in 2007. Marketer-induced problem recognition, new products and new needs/wants are the sources of problem recognition for this particular product. Marketer-induced problem recognition means the "marketer's actions that encourage consumers not to be content with their current state or situation" (Belch & Belch, 2012). Technology has a life span of 3 years before a consumer gets bored with it and want something new and fresh. New versions of iPhones release every 2-3 years and there's always a big hype around it. "Marketers are constantly introducing new products and services and telling consumers the types of problems they solve" (Belch & Belch, 2002). The latest iPhone 5 encourages consumers to upgrade with faster processor, better and bigger screen, and a thinner, more sleek look. The hype around it excites Apple's consumers, which results in people waiting in lines the night before the new product is released. As this article mentions, "a dollar now is worth a lot more today than a dollar a week from now... People put a lot of value in having something right away." It is clearly said that people put a lot of value in something they are able to get firsthand before anyone else. It is safe to say that Apple has great awareness in terms of consumer behavior and they know what strategies to put in place to keep their consumers wanting more.