1To: Prof. Noel, MAR 3023 From: Subject: #5 Product Life Cycle Reference: BW March 17, 2008 - see attached article Date: March 28, 2008 Apple is undergoing some changes, as documented in Business Week’s “The iPhone in the Gray Flannel Suit”, an article by Peter Burrows. The iPhone entered the world as the “next big thing”, a phone with a touch screen that could bring everything to your fingertips, and people were willing to pay the $400 (originally $600) price tag to own one. However, like any product, the iPhone is faced with a decline in sales, and CEO Steve Jobs is preparing a new strategy to target the corporate world. When Apple first introduced it’s iPod, a consumer-friendly MP3 player with video capabilities, it built a strong brand recognition. Consumers anxiously awaited the arrival of their new product, a cell phone with all the features of the iPod and more. The unusually high price tag was offset with technologies that had not yet been available. The iPhone was not only a phone, but a status
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