Description
Scenario: You have been given the responsibility of working with your organization's CEO to do a competitive market analysis of the potential success of one of their existing products.
Research an organization and a product produced by that organization in which an analysis can be conducted.
Write a 1,750-word analysis of the current market conditions facing your product, making sure you address the following topics:
- Define the type of market in which your selected product will compete, along with an analysis of competitors and customers.
- Analyze any comparative advantages and international trade opportunities.
- Explain the factors that will affect demand, supply, and prices of that product.
- Examine factors that will affect Total Revenue, including but not limited to:
- Price elasticity of demand
- Factors that influence productivity
- Various measures of costs, including opportunity costs
- Externalities and government public policy and their effect on marginal revenue and marginal cost
- Recommend how your organization can maximize their profit-making potential and increase their presence within the market served by the product.
Cite a minimum of three peer-reviewed sources from the University Library.
Format your paper consistent with APA guidelines.
Explanation & Answer
Attached.
Current Market Conditions Competitive Analysis
Current Market Conditions Competitive Analysis
Student’s name:
ECO 365
Professor’s name:
Date of Submission:
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Current Market Conditions Competitive Analysis
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Current Market Conditions Competitive Analysis
Apple Inc Company is a leading company in the telecommunication industry which deals
with the production of computers and other electronic products. It is headquartered in Cupertino
in the United States. One of the major products of Apple Inc on the market currently and
trending is the iPhone. iPhone use has become familiar to consumers across the world. Since
2007, Apple Inc has introduced new models of iPhone in the market. The iPhone is the highest
selling in the market and has had a significant impact on the Smartphone market. Apple Inc
designs manufacture and sells its products making them unique. (Rachet, 2014)
Market, Competitors and Customers Analysis
The product, iPhone, will compete with other Smartphones produced by companies
within the industry such as Samsung. The market is oligopolistic with fewer producers in the
market however the buyers are a little large in number. Apple products dominate the market.
Apple iPhone is unique in its way hence the company also enjoys a monopolistic market.
Specific industries such as Apple Inc has a larger market share of consumers and are well-known
brands. An iPhone offers an excellent experience in interaction and access to the internet. With
the introduction of it in the market, it came in two different sizes with varied costs between $499
and $550. Compared to other smartphones it did not sell well since it was expensive and
affordable to only a particular group of consumers, the working class. Samsung creates
smartphones such as Samsung S7, S6, and Grand Prime to compete with the Apple, offering
similar features present in Apple’s products. Another major competitor of Apple is Microsoft and
GOOGLE. Microsoft makes smartphones that operate on Windows OS, whereas the iPhone runs
Current Market Conditions Competitive Analysis
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on IOS. Another competing operating system in the market is Android. However, no
manufacturer has been able to develop a similar product as Apple’s.
Analysis of comparative advantages and international trade opportunities
Apple iPhone has a chance in the global market. Consumers across the world use Apple
products. Apple Company has been established in other countries such as China whose
technology industry...
