Apple Brand Strength Now Creating Financial Success
So far, Apples' branding strategy is bearing fruit. For example, Apple reports that half of all computer sales through its retail channel are to people new to Macintosh, the company's sales and margins have been growing strongly since 2006, and Apple has achieved several "best ever" quarterly financial results in recent years, and in early 2012 when Apple's share price passed $500 per share for the first time, the company was the most valuable business in the world with a market capitalization which exceeded oil company Exxon, the previous top business.
Leveraging the success of the iPod, Apple launched the iPhone (released in July 07) to extend the brand even further. Apple's buzz marketing efforts in the first half of 2007 were truly superb, culminating in the release of one of the most highly anticipated products for many years - and launching apple into a completely new market: mobile handsets. By July 2008 the buzz about the 3G iPhone resulted in over 1 million units being sold in the first 3 days of its release in over 20 countries around the world. This success was repeated in 2010 with the introduction of the iPad tablet computer, and in March 2011 with the launch of the iPad 2 which sold 1 million units within 24 hours.
