Word: price
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Most would offer this advice to would-be iPhone-app entrepreneurs: Don't be greedy. You can easily make up for in volume what you lose in price...
Before long, there were thousands of games on the market, and demand hit a natural high. Pangea dropped the price to $0.99, an enormous discount that initially pained Greenstone - until sales took off. "The incredible sales volume has more than made up for the drop in price," he said. "I initially thought we might sell 20,000 copies of Enigmo over its lifetime on the iPhone, but we've already done almost 500,000 just in five months." That's $1.8 million in sales, according to Greenstone. Cro-Mag Rally, another Top 10 title from Pangea, has sold nearly...
...Steve Sheraton, the magician behind Las Vegas-based Hottrix, a magic and special-effects shop that developed another (apparent) 2008 top seller, iBeer, said dropping the price on his app may have been a mistake. "I'm not selling more at $0.99 than I was at $2.99," he said of the entertaining little app that simulates a glass of beer: put the phone to your lips, tip it and you can "swallow" the beer. He dropped the price as part of a presidential sale on Election Day but said he'll raise it again soon to test his theory. Sheraton...
...plans to prune the company's offerings in the coming months. It will also try to monetize some previously ad-free products like Google Finance and News. Such efforts may help it weather the economic storm without resorting to layoffs, even if it doesn't bring its stock price any closer to the November 2007 high of $732 per share. (It closed on Wednesday at $279.) And it's still got some $14 billion in cash reserves. So for now, at least, the free lunches are still...
...price of halfway restructurings was steep. In 1985, GM aped Japan's practice of building global cars - the idea was to share chassis and parts across brands, a strategy that made sense at the engineering level. At the consumer level, it was a disaster. Internal clashes for control removed imagination from design, resulting in look-alike Buicks, Oldsmobiles and Pontiacs. Sales declined; cue another restructuring. The Germans, who have their own auto culture, were no match for Chrysler after they bought the company in 1998. No wonder they gave it back...