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Demand of Smart Phones

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Demand of Smart Phones
| Samsung Smartphones | Managerial Economics Assignment | | By Group A5Abhimanyu AnchaAkshya PuriAniruddha KulkarniHiten BachaniRahul AgrawalSai Sundeep | |

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Contents DETERMINANT OF DEMAND/SUPPLY 2 Product Type 2 Factors Affecting Demand 2 Price Elasticity of Demand 3 Nature of Demand of the Product 4 LAW OF DIMINISHING MARGINAL UTILITY 5 Diminishing Marginal Utility in case of Samsung smart phones: 5 Consumer Surplus 6 REVENUE MODEL OF SAMSUNG SMARTPHONES: 8 ANALYSIS OF MARKET TYPE AND NATURE OF COMPETITION 10 Competitive environment of smartphone market in India: 10 Top 3 strategies adapted by Samsung to answer the competition and gain market share: 10 Price Discrimination: 12 References: 13

DETERMINANT OF DEMAND/SUPPLY
Product Type
Smart phones are something which are becoming the centre of the cell phone industry these days. So, they are classified in the normal and the superior products. Some products which are affordable and come with limited features such as Galaxy Y S5360 and Galaxy Ace will fall under the normal category product while Galaxy S2 and Galaxy S3 falls under Superior Products.
Factors Affecting Demand
Top 5 factors affecting Demand of Samsung Smart Phones 1) Price of the Product: One of the major factors affecting the demand of the product is Price. Since mobile phones come in a category which is not very expensive in most of the cases. Hence the price of the product plays a very important role in deciding the demand for the product provided the product is competent enough in case of features with other products in similar category present in the market. 2) Income of the Buyer/Consumer: The income of the buyer plays a significant role. The amount of disposable income determines the demand of smart phones since it is not one of the essential needs of the customers. Hence, more is the disposable income of the customers – more will be the demand of superior smart phones 3) Taste
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