iPod- Perfect Thing or Perfect Timing?
Innovation is often thought of in terms of a great new idea, when more often than not successful innovation requires the right market timing. How can companies identify when the timing is right? There’s no better example than Apple’s iPod.
Apple’s iPod – now celebrating its five year anniversary – gets the credit for revolutionizing the music industry. In the new book The Perfect Thing, author Steve Levy says the iPod “set the technology world, the business world, and especially the music industry on its head.” He’s right. And so are many others that have made similar claims. But not necessarily for the reasons they suggest. The Apple wasn’t a revolutionary product. In fact, most of its capabilities existed in other products before it launched in 2001. Yet it caused a revolution. Why? It’s a perfect example of the old adage “timing is everything.”
How did a relatively small computer company become the most potent force in the music industry? Some of the reasons include:
. The industry was ready. Apple convinced the music conglomerates, nervous over threats by peer-to-peer music sharing networks, that the digital music revolution was a major opportunity, not a death knell, and managed to acquire the rights to sell songs through its iTunes music service.
. Consumers were ready. A critical mass of people wanted to enjoy digital music, but were either too confused or too afraid to embrace it. Apple made the process of using an MP3 player and downloading songs so simple (and legal), the average user could get behind it.
. Fashion was ready. The emergence of portable electronics (e.g. cell phones) as an expression of personal style. Cell phones ushered in the fashion trend, but the iPod was able to take it to the level of personal identity. The white ear buds were the sign of cool.
By exploring these and other trends that contributed to the success of the iPod, this article demonstrates how successful innovation is more than a good idea; it requires good market timing. It examines how Apple managed to capitalize on a confluence of events to introduce the iPod + iTunes platform and reshape the music industry, and provides insight into how other companies can leverage the lessons learned.
Todd Merriman
Senior Consultant
Group 1066
Todd Merriman
Senior Consultant
Todd brings years of experience architecting the brands of a diverse set of companies. Some of his past clients include Dow Chemical, Boise Cascade, Unisys, GMAC Commercial Mortgage, and Norwegian conglomerate Norsk Hydro.
Prior to joining Group 1066, Todd worked as a consultant with the strategic branding firm Siegel & Gale, helping many premier Global 500 companies develop and implement comprehensive branding programs.
Todd began his career at Irvine, California marketing firm The Lindquist Group, under the expert guidance of Jack Lindquist, the former president of Disneyland Resorts. There he helped clients conceive and develop major corporate and civic events, including the opening year program for the Getty Center and KPMG Peat Marwick’s centennial celebration, for which KPMG was celebrated at The President’s Summit on America’s Future in 1997.
Todd studied English at The University of Colorado at Boulder and has been published in several national publications and literary journals.
Group 1066, LLC (www.Group1066.com) is a strategic marketing firm that helps companies make it easier for customers to buy from them. We do so by focusing on how and why products and services are bought and sold. Services include the development and positioning of new products, bringing clarity to existing brands, product portfolios and marketing and sales communications to drive revenue.
Clients include: Microsoft, for whom we are a preferred marketing and branding services provider, MasterCard, Banta, HNTB, Exostar, Merrill Lynch, Deloitte and Gartner.
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