Successful companies frequently depend on just one product for a large share of their sales. That’s true for some of the most iconic brands, including Coca-Cola, Marlboro, Jack Daniels, and Apple. In many cases, these products not only represent an outsized share of their company’s revenue, but they also have tremendous profit margins that serve as the foundation of the company’s profitability.
Nearly all the most profitable products are market leaders in their industry and are mass produced in incredible quantities. As a result, the company can apply significant pressure on suppliers to lower costs, while still selling to customers at the highest possible price.
For instance, Apple sold more than 150 million iPhones in its latest full fiscal year, up 20%…
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