How to use iPhone as a hard disk drive?

I want to use my iPhone as a hard disk drive so as to copy files, audio and video from my Macbook to iPhone and iPad. How should I do?

Put files in dropbox and veiw them on IPhone (Not entirely sure)

No way, you can use your iPhone like that! Not even iPod Touch and iPad.
But don't worry, you can add your audio and video files from macbook to your iPhone and iPad like that:
1. Open iTunes
2. From the File menu, choose one of the following choices:
For Mac Add to Library
For Windows Add File to Library or Add Folder to Library
3. Navigate to and select the file or folder that you want to add
If iTunes is set to "Copy files to the iTunes Music folder when adding to library," iTunes will copy all content that is added to the iTunes library to the iTunes Music folder. To adjust this setting or change the location of this folder, go to the Advanced tab in iTunes Preferences.

The best solution for your question should be MacX iPhone Mounter, I think. You could download it on download.cnet.com and have a try. Hope it works for you.

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