Current Market Conditions Competitive Analysis Essay

1488 Words Jun 17th, 2014 6 Pages
Current Market Conditions Competitive Analysis
Rishi Madhav
ECO/ 365
June 18, 2014
Professor Renee Barela-Gutierrez

Current Market Conditions Competitive Analysis Here at Apple Inc. we are coming to our years end with the success of the iPhone 5s. With the iPhone 6 in development, it is that time of year where we must look at our new product and determine its potential success. With all newly upgraded software and added features such as a new camera system, it vital that we show our customers just how much more beneficial our product remains as the best. We will look at our competitors and more importantly their products that can potentially compete with the iPhone 6 and how this will affect our prices. Steve Jobs and Steve
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Mr. Job's ability to stay ahead of the competition allowed him to see the first ever iPhone, which was brought into the world in 2008. First of its kind, the iPhone was a touch screen phone that featured hundred of applications for the customer to choose from. The popularity quickly gained Apple Inc., $4.6 billion dollars in sales just from the first version alone in one year. Apple Inc. did what no other competitor in the market was able to do, and that was make the customer believe their product was the best out there. Apple has grown from a basic computer company to a full-blown technology company with products that include; Apple computers, iPod, iPad, iPhone and Apple TV. The demand for apple products has only increased throughout the years, and there are still factors that can affect supply, demand and prices. Some factors that affect supply include time of year the iPhone is released, the time duration of the product being in the market and how many other products are already in the market from competitors. Demand factors include the products of their competitors and the prices their competitors are listing their product as and the time of year. Time of year will determine both supply and demand because most customers look for deals. The time of year that Apple sees the most demand include Black Friday, Christmas, summer sales and student discounts at the end of the summer. With competitors such

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