Master class

Steve Jobs does it again. He proves why he is a master at marketing and understanding his customers, even when he (seemingly) makes a mistake. On Wednesday, Apple introduced a slew of iPods, including an iPhone-less model. Then he dropped a bombshell: he slashed the price of the top-model iPhone by one-third. While making most happy to have the gadget now within monetary reach, the early adopters--the ones who stood in line for hours or days to be the first on their block with one--were ready to go postal. Some were irate, many were just hysterical. Reading the tea leaves, Jobs reversed course, a little, and in a letter, offered $100 in store credit to those who bought it early. In short, Jobs was caught off-guard by the vitriol, recovered, offered and olive branch, and probably gained customers in the bargain. All in 24 hours. He moved fast, and keep a spark from becoming a tire fire. A chapter from the book of the Art of Recovery.

I'm trying to have some sympathy for those on the bleeding edge who shelled out an extra $200 for the iPhone. But they had to have known Apple would do this (though maybe not so fast). But being an early adopter, you run the risk of price and technology changes. And you know these things are coming. The price always falls after a spell, and the technology on the phone will improve. Being the old, slow tortoise is ok, sometimes...