Apple’s flagship product iPhone 6s has not sold as good as earlier models. In India iPhone 6S was launched in mid October 2015. It sales figures were demotivating and within first week of launch in India, retailers started offering heavy discount. It was lead by Paytm, and iPhone was available at whopping 12% discount on announced price.
For any iPhone launched so far, it was unheard. iPhone is know for mid-night hysteria when customers make bee line in midnight to get that exclusive product as soon as same is available.
There were restlessness in Apple team all over world and specially in corporate team. First time they were set to fail. However when you are as big as Apple, than you are too big to be failed. Apple has changed marketing strategy and came up with innovate affordability scheme for consumers which they prefer to call iAfford offer. They partnered with all leading banks including Axis Bank | Citibank | HDFC | HSBC | ICICI Bank | IndusInd | Kotak Credit Card | RBL Bank | Standard Chartered | State Bank of India | Union Bank of India.
Apple also partnered with NBFC’s like Bajaj finance and Capital First to tap customers who dont have interest in buying phone on credit card, or can say who still to be empowered with credit card.
Apple came up with following innovative schemes
- Up to 24 month EMI, with Zero Downpayment on cards of leading banks with attractive cash backs
- 6, 9, 12 & 18 month tenures with attractive cash backs also available
- 12 month financing, with Zero Downpayment, Zero consumer Interest and Zero Processing fee from Bajaj Finance & Capital First
- 2 EMIs upfront in case of no credit eligibility for zero down financing for consumer
- Trade-in offers with IM / Bright Point in select program outlets
- Check latest, improved device pricing at http://www.xchangemobile.com/india
- Diagnostic based screening of phones should minimize ambiguity in assessment of devices
In this, game changer was trade in offer. Initially Apple tested water with their National Distributor Ingram Micro and Bright Point. Apple planned this on assumption that every user or say high end user had to upgrade his/her mobile in a year. Though Apple’s iPhone command a good price in reselling compared to any other brand, however as ND’s of Apple was directly involved in it, Apple ensured much better price for exchange than prevailing in market. It was win win for Apple, as iPhone 6S sale jumped up.
It did help Apple to get momentum and get back their loyal customer back.