One of
the biggest factors in Apple’s success is a commitment to ingenuity and new
ideas. Early on, the company spent significantly more on research and development
than their competitors, sometimes in the range of hundreds of millions of dollars,
helping them introduce new technologies before anyone else, or at the very
least, give the impression of having developed the latest new thing first. For example,
Apple continually releases new products that encourage people to replace their
old, often still fully functioning devices for the newest upgrade with the newest
features, enabling them to increase their revenue. Apple also owes its success
to its strong branding and ability to generate strong customer loyalty. Apple’s
reputation is partly based on a simple, sleek design that differentiates them
from other bulkier PCs. They also promote brand loyalty by integrating their
various systems/devices, increasing the ease of use across devices which makes it
more convenient for people to own all Apple products and stay that way. Apple
succeeds by creating almost seamless integration of their products into and across
their users lives.  

 

Another
successful company today is Amazon. Amazon is a large conglomerate, providing
everything from physical products, both of its own brand and other sellers; a
streaming service for TV shows and movies; cloud computing; a digital assistant
named Alexa; drones; and other physical stores, including Whole foods and a
trial store that would allow people to shop without having to actually check
out at a register. This multitude of services has allowed to company to attract
many customers who appreciate its low prices and many conveniences, such as
2-day free shipping for prime members. Indicators of the company’s success
include the fact that its stock price has jumped over a hundred percent since
2015 and that it makes up the majority of money spent online in the United
States.

https://www.economist.com/news/leaders/21719487-amazon-has-potential-meet-expectations-investors-success-will-bring-big

 

Every
day, numerous UVA students visit the Alderman Café for baked goods,
smoothies/shakes, and other caffeinated beverages as they study in the library,
providing it with a steady stream of revenue and customers.