Credit Apple for Giving Credit
Even the smartest marketing guru can drop the ball.
Apple (AAPL) CEO Steve Jobs has earned his reputation as a marketing genius. But he started out by getting this one so badly wrong.
Jobs went into full damage control Thursday, agreeing to hand out a $100 Apple Stores credit to each person who bought an iPhone before the price was slashed. The move came just hours after Jobs was dismissing complaints and implying that the customers wouldn't get a penny.
"We need to do a better job taking care of our early iPhone customers as we aggressively go after new ones with a lower price," he admitted in an open letter to customers posted on the Apple Web site. "Our early customers trusted us, and we must live up to that trust with our actions in moments like these."It was the right move -- and made not a moment too soon. "We want to do the right thing for our valued iPhone customers," he added. "We apologize for disappointing some of you, and we are doing our best to live up to your high expectations of Apple." Jobs acknowledged that he had made the change after receiving "hundreds" of angry emails and reading "every one." (Hundreds of angry emails from Apple fanatics? Hey Steve, now you know how Bill Gates feels when he logs on every morning!) The refund was a dramatic reversal from the stance Jobs took just a few hours earlier, when he dismissively told USA Today: "That's technology."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV