People who have their brain wired to the craving for new technology cannot resist to buy the latest model of iPhone as soon as it is released. Most of the technology companies are aware of this weakness and are happy and ready to exploit it.
Sundeep Teki, argues that the brain of a human is genetically wired to seek specific needs like social status and security. This act triggers the activity from the brain reward network. The brain releases dopamine chemical that is responsible for reinforcing the compulsive behaviour. Once rewarded, dopamine levels will raise, if unchecked, too much reward seeking may lead to addictive behaviour.
In the recent society, people use photos, music, social networking to communicate their desires. A study on the Apple Gadget News revealed that they activate the similar brain parts in its fans just like the religious images triggers the faith of a person. The main idea here is the cult around Apple gadgets news and other premier brands will not be as much an exaggeration.
The combination of neuroscience and marketing has resulted in the creation of a field known as neuro-marketing where the company strives to understand the behaviour of a consumer through the experimental neuroscience and psychology. Such companies will use that data to trigger the desire for their products by their consumers. The idea is to have the brand become part of the common vocabulary. This ensures that new technology is enmeshed in lives of the customers, that they cannot live without.
There are other psychological reasons that explain why people crave to be updated on technology and to feel the compelling force be early adopters of the favourite apple gadgets. The first reason is that firms tell us that we are obliged to want them. This technique is much successful to users who are predisposed to the Apple products. Tim cook when marketing an Apple watch gave its description as very special and unbelievably unique. This could be the reason why the watch sold well even where people were not fully convinced of its utility.
After ten months, Apple cut the price of the watch. The Cupertino’s version of the smart watch resulted in an increase in sales. The reduction of price, therefore, betrayed the rare status of the Apple failure. Even with the new watch bands and new prices, nothing actually changed. This is a bad deal actually because the product has been selling at the same price for some time.
Like most of the computer-based devices, the Apple smart watch is built with an expiration date that is built in. The life period is generally two years. Even if it will not self-destruct itself upon the lapse of this period, it will feel outdated, old and thus new versions will be required to replace it. Since the watch retails at $300, upgrading it at that cost every two years is costly.
Buying something will only be considered helpful if you need and want it. Even the most committed and excited buyers, an Apple watch could only be turned into a good deal by a massive price cut. So if you were to use the watch, you would refresh the wrist after every two years, the cost of this would be extremely high over the years.
The CEO of Bobs Watches, Paul Altieri, argues that the Apple watches were more of the technology item rather than a wristwatch, as such, it should not be expected to retain the value for a longer period. Just like other technology-based products, they are bound to lose their value as new product advances are released.
This participation can be contrasted by another participation of a technological gadget with a shorter lifespan. This is the Rolex, which requires an outlay of close to $5000. This would not only fail to get the stale on the wrist but is likely to gain or retain the value or even at time outlive the owner.
One may also take a friendly option budget- a Seiko watch. A good looking one would cost around $200. These two extremes and a possibility of options between the two makes it hard to see an Apple Watch on the wrist of a person at any price.
People are attracted to shiny new gadgets by hope. Since these people have witnessed great technological changes in a short period, people might be predisposed to draw conclusions that every innovation technologically will revolutionise their lives. Whether they will or they won’t, firms will make money out of your optimism.