Five Reasons the iPhone Is Its Own Market

Apple, the producer of the iPhone, has its own market to reach: you've seen the commercials for iPhones and you have an idea of how successful they've become. But what many people fail to see is that the iPhone has also created its own market, a miniature economy that has its own businesses, developers, and customers.

How can a market be created out of a product that's competing to function well within its own market? Simple. Apple's iPhone has sold some 50 million units already, meaning that there are 50 million people in this market. Let's take a look at all of the reasons the iPhone could be considered its own market.

1. The aforementioned popularity.

At 50 million users, the iPhone has a large potential audience. It may not be easy to tap every single user of the iPhone, but the potential to go viral with a blog post or an App via the iPhone still exists. Heck, if you sold 50 million plastic sticks, it would create its own side markets. Smart entrepreneurs recognize these kinds of trends.

2. Users are hooked.

We know that most of the time people are using their iPhone, they're not talking. So what does that say about the users? They're hooked. They're using Apps, they're looking at Google Maps, and they're surfing the Web.

3. The iPhone expands the internet.

Think the internet is a big market? You'd be correct. So consider the fact that the iPhone has extended the reach of the internet to include wherever the iPhone's AT&T network can reach. Is it truly global? Maybe not. But that doesn't mean the internet hasn't grown more powerful since the iPhone came out.

4. There are new needs to fill.

The great thing about a new piece of technology like the iPhone is that it creates new opportunities to create value for users. Do they need an App? You can give it to them. Do they need a mobile-friendly web page? You can give it to them!