Differentiating Between Market Structures in Kudler
Current Market Conditions Competitive Analysis
Jerona Green, Darlene Wilson, Bronda Perkins, Christopher Pollard
ECO/365
April 8, 2013 Samuel Imarhiagbe
Current Market Conditions Competitive Analysis In today’s society the cell phone market is a huge competitive industry for cell phone companies. There have been studies that show that half the world has cell phone accounts. One attribute that defines the cell phone market is the idea of consumers is giving up their land line phones. This has caused a large influx of customers into the market for cell phones. As technology continues to advance, a variety of cell phones are developed and marketed to different areas across the nation. Cell phones are available for business and social purposes such as social networking, text messaging, retrieving e-mails and for playing games. Apple Inc. ranks second as the largest information technology company across the world (Bloomberg). Apple Inc., like other cell phone corporation, has supply and demand that is affected by a variety of factors. Businesses create products and offer services based on their customers’ demands, which can have an effect on the supply availability. The preference of the customer and the desire of the product that a company sells can affect the demand curve. As more customers want a product like the iPhone, the demand curve shifts to the right. Family, friends and colleagues can have a strong influence on a person’s choice of cell phone. When friends and family members have an iPhone, the consumer is more likely to purchase the phone because everyone else is getting it and speaking of the new cell phone. This type of “word of mouth” advertisement is free and beneficial to Apple Inc.
Apple Inc. marketing strategies caused the iPhone to become very popular and its strategy keeps Apple products in the news media. Because of increased advertising Apple Inc. could raise the demand of the iPhone. The rising demand of the iPhone caused
Jerona Green, Darlene Wilson, Bronda Perkins, Christopher Pollard
ECO/365
April 8, 2013 Samuel Imarhiagbe
Current Market Conditions Competitive Analysis In today’s society the cell phone market is a huge competitive industry for cell phone companies. There have been studies that show that half the world has cell phone accounts. One attribute that defines the cell phone market is the idea of consumers is giving up their land line phones. This has caused a large influx of customers into the market for cell phones. As technology continues to advance, a variety of cell phones are developed and marketed to different areas across the nation. Cell phones are available for business and social purposes such as social networking, text messaging, retrieving e-mails and for playing games. Apple Inc. ranks second as the largest information technology company across the world (Bloomberg). Apple Inc., like other cell phone corporation, has supply and demand that is affected by a variety of factors. Businesses create products and offer services based on their customers’ demands, which can have an effect on the supply availability. The preference of the customer and the desire of the product that a company sells can affect the demand curve. As more customers want a product like the iPhone, the demand curve shifts to the right. Family, friends and colleagues can have a strong influence on a person’s choice of cell phone. When friends and family members have an iPhone, the consumer is more likely to purchase the phone because everyone else is getting it and speaking of the new cell phone. This type of “word of mouth” advertisement is free and beneficial to Apple Inc.
Apple Inc. marketing strategies caused the iPhone to become very popular and its strategy keeps Apple products in the news media. Because of increased advertising Apple Inc. could raise the demand of the iPhone. The rising demand of the iPhone caused