Apple Vision Pro - The New Segway PT?
Apple Vision Pro … The New Segway PT?
The Segway PT, or Personal Transporter, was a two-wheeled, self-balancing electric vehicle that was first introduced in 2001. It was designed to revolutionize personal transportation, and was initially met with a great deal of excitement and anticipation. However, the Segway PT ultimately failed to achieve widespread adoption and it was discontinued in 2018.
There are a number of reasons why the Segway PT failed at the time:
- It was simply too expensive for most people. The Segway PT originally retailed for $2,500 which was more than many people were willing to pay for a new form of transportation.
- It wasn’t marketed well. The company that made the Segway PT - Segway Inc. - did not do a good job of explaining to potential customers what the PT was and how it could benefit them. As a result many people were confused about what the Segway PT was and didn’t see the need to buy one. (Of course this will probably not be the case with the Apple Vision Pro, as let’s face it Apple are a marketing company that happens to sell electronics and are very good at both!)
- It was also seen as being a bit of a novelty and not as a practical form of transportation for most people. As a result, many people were hesitant to buy one, even if they could afford it.
Now is Apple Vision Pro a product you need in your life? Is it a novelty? I am not sure but there will be early adopters (loyal Apple customers). However that pricing point still seems a little steep.
The Segway PT is a cautionary tale about the importance of marketing a new product effectively. If Segway Inc. had done a better job of explaining the Segway PT to potential customers and showing them how it could benefit them it is possible that the Segway PT would have been more successful.
Lessons Learned
There are a number of lessons that can be learned from the PT’s failure. One - it is important to price a new product competitively. If a new product is too expensive, it will be out of reach for most people.
Two - it is important to market a new product effectively. If a new product is not marketed well, potential customers will not know what it is or why they should buy it.
Finally, it is important to make sure that a new product is seen as being practical and useful. If a new product is seen as being a novelty, it will be difficult to sell.
By following these lessons, companies, especially starts ups can increase their chances of success when introducing new products to the market.