Apple’s New Products: Will consumers buy?

Photo by Youssef Sarhan on Unsplash

Todd A. Ward, PhD, BCBA-D

bSci21Media, LLC

Tim Cook and a host of celebrities announced several new Apple products at its headquarters earlier this week, focused heavily around the video streaming market.  Let’s take a look at what they had to offer:

Apple TV+

A paid service, free of ads, to showcase TV and movies produced by Apple themselves.  Notable productions include productions from Oprah, Reese Witherspoon, and Steven Spielberg.

Apple TV Channels

Soon all of your subscription services can live together, and “will appear as if they’re all part of the same service, side by side”, according to CNN Business.

Apple News+

The overhauled news app will ad over 300 magazine subscriptions for a low monthly subscription.  Apple will also prohibit tracking from advertisers and is heavily investing in editorial staff to curb the spread of misinformation.

Apple Card

No more plastic.  Apple Card will be available on your phone, complete with its own rewards system.  Security is bolstered with fingerprinting and face recognition technologies, and payments will not be tracked, to enhance privacy.  Oh, and if you want a physical version, you can get one in etched titanium, but the reward system is structured to discourage its use.

Apple Arcade

Soon, you have access to over 100 downloadable games, via online subscription.  But pricing hasn’t been announced.

Reaction from Wall Street

After the event, Apple stock fell, and Wall Street analysts were left scratching their heads.  CNBC quoted Ron Hall of Goldman Sachs as saying “we expect the focus to return to the slowing iPhone business.”  Among the many concerns were an overly niche focus that may only appeal to existing Apple users, and a lack of pricing for Apple TV+ was a sticking point.  However, of the seven analyst evaluations, two, from Bank of America and Citi, had “buy” ratings and predict future growth.

Our Take

As we have discussed elsewhere, financial markets, are comprised of macrocontingencies – relations between the purchasing behavior of millions of customers, and their cumulative financial effects on the company.  Or, in the case of trading, cumulative effects on financial instruments.

It is an if-then relation.  But in order to impact cumulative profits, you have to impact behavior.  The general consensus on Wall Street seems to be that Apple’s showcase was a dud.  The opinions of ordinary consumers who would be purchasing the products, however, remain to be heard.  Maybe adorning the event with celebrities will be the nudge that gets the public into a buying frenzy.  Or maybe the price points that are yet to be seen, and ruffle Wall Street feathers, will send customers elsewhere.  The early adopters will likely be current Apple customers, but will they spill over into the larger market?

A Citi analyst was quoted as saying “consumers are slow to change their behavior”, but what is your take?  Let us know in the comments below, and be sure to subscribe to bSci21 via email to receive the latest articles directly to your inbox!

Todd A. Ward, PhD, BCBA-D is a science writer, social philosopher, behavioral systems analyst, and the President and Founder of bSci21Media, LLC, which aims to connect behavioral science to the world in an engaging, non-academic way.  Dr. Ward received his PhD in behavior analysis from the University of Nevada, Reno under Dr. Ramona Houmanfar.  He has served as a Guest Associate Editor of the Journal of Organizational Behavior Management, and as an Editorial Board member of Behavior and Social Issues.  His publications follow a theme of behavioral systems analysis, organizational performance, theory & philosophy, and language & cognition.  He has also provided ABA services to children and adults with various developmental disabilities in day centers, in-home, residential, and school settings, and previously served as Faculty Director of Behavior Analysis Online at the University of North Texas.  Dr. Ward can be reached at [email protected]

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