Millions of iPod’s are created every year. This has made the iPod the fastest selling mp3 player in history. The first iPod was sold in 2001 at a price of $400 and held only 5 GBs of audio.
From the years of 2001 until now, over 10 different types of iPod’s have been created including the mini, nano, touch and classic. iPod is an extremely successful product, bringing in hundreds of millions for Apple Corp. annually.
The success of the iPod is all due to the consumers. Without consumer interest a product is nothing. New options, features and customization is something offered with the release of every next generation iPod. As prices drop and the product becomes more affordable, consumers are more likely to purchase it.
With a drop in price comes a rise in demand. Consumers are interested now that the prices are down and they're buying the product. But with time there need to be new versions and features.
This is where technology comes into the picture. Aside from the technology to initially make the product, you need to keep up with updates and additions to your product. The consumer is always expecting something new and without top of the line technology your product is likely headed for a dive.
The technology aspect has to do with competitors and firms in your industry. If you're selling iPods, Apple is in a large rivalry with the Zune, Microsoft's counterpart to the iPod. You must keep this in mind and be sure to keep up with your competitor features and capabilities or consumers will be picking their product over yours.