Current Market Conditions Competitive Analysis
Current Market Conditions Competitive Analysis
Christina Hand, Ray Philips, Emmet Flynn, Cat Guerrera,
Christa Rehmeyer, Mike Norton, & Nikolas Morrow
August 6, 2012
ECO/365
Franny Chan
Factors that affect demand, supply, and equilibrium prices in the market in which the competing organization operates; define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers.
The cell phone market is a massive market; some studies conclude that more than half of the United States has cell phone accounts (Simon, 2004). One attribute that defines the cell phone market is the idea of consumers giving up their land line use. Many individuals are now giving up their land line use in favor of using only a cell phone. This causes a large influx of customers into the market for cell phones. As technology continues to advance new types of cell phones are developed and marketed to different segments of the population. Now cell phones are available for business purposes and social purposes such as social networking, text messaging, or gaming, and the leader in cell phone sales is Apple Inc.
“Started by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple has expanded from computers to consumer electronics over the last 30 years, officially changing their name from Apple Computer, Inc. to Apple, Inc. in January 2007.”(CrunchBase, 2012) Among many products that Apple Inc. offers, the iPhone, which is available in over 90 countries, is the most innovative in the cellular world and is constantly evolving.
The iPhone is a cellular device that also acts as a media player, a way to instant message, an iPod, a computer of sorts as it surfs the web over wi-fi, a GPS system, a camera and video camera, a tool to control home lighting and the starting of a car, and much more. It has a 3.5 inch touchscreen that can be used horizontally or vertically and has a full keyboard. “Moreover, the iPhone has a built-in
Christina Hand, Ray Philips, Emmet Flynn, Cat Guerrera,
Christa Rehmeyer, Mike Norton, & Nikolas Morrow
August 6, 2012
ECO/365
Franny Chan
Factors that affect demand, supply, and equilibrium prices in the market in which the competing organization operates; define the market for your chosen product, including an analysis of its competitors, potential customers, or potential buyers.
The cell phone market is a massive market; some studies conclude that more than half of the United States has cell phone accounts (Simon, 2004). One attribute that defines the cell phone market is the idea of consumers giving up their land line use. Many individuals are now giving up their land line use in favor of using only a cell phone. This causes a large influx of customers into the market for cell phones. As technology continues to advance new types of cell phones are developed and marketed to different segments of the population. Now cell phones are available for business purposes and social purposes such as social networking, text messaging, or gaming, and the leader in cell phone sales is Apple Inc.
“Started by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple has expanded from computers to consumer electronics over the last 30 years, officially changing their name from Apple Computer, Inc. to Apple, Inc. in January 2007.”(CrunchBase, 2012) Among many products that Apple Inc. offers, the iPhone, which is available in over 90 countries, is the most innovative in the cellular world and is constantly evolving.
The iPhone is a cellular device that also acts as a media player, a way to instant message, an iPod, a computer of sorts as it surfs the web over wi-fi, a GPS system, a camera and video camera, a tool to control home lighting and the starting of a car, and much more. It has a 3.5 inch touchscreen that can be used horizontally or vertically and has a full keyboard. “Moreover, the iPhone has a built-in