Current Market Conditons Competitive Analysis
LaTavia Davis, Russetta Celestine, Allen French, Yolanda Pinkney ECO/365
October 22, 2014Mr. David Henderson
In a strategic planning group at a large corporation you must be able to develop products and show why the product would be a success. A competitive market analysis will determine who the primary competitor in the market is at the time the product is released. The company and the product that was chosen in the analysis is the iphone 6 made by Apple. This paper will focus on the short history of the organization, the description of the Iphone, factors that will affect demand, supply, and equilibrium prices in the market in which the competitor organization operates. It will also address any issues or opportunities Apple faces that affect its competitiveness, long term profitability, price elasticity of demand, technological innovation, the relationship between the amount of labor, capital employed, the law of diminishing marginal productivity, cost structure and factor affecting fixed costs. The recommendations on how this product will maximize the profit making potential will also be made. Short History
Apple was created in 1976 by Steve Jobs and Steve Woznak in Cupertino, California. They dropped out of college to pursue their dreams. They built and created computers in their garage which later became popular. Apple is now a multibillion dollar company which they are well known for the IPOD, the iphone, and the ipad. Apple has 364 retail stores in thirteen different and it is the largest publicly traded company in the world by revenue and profit. It is well known for the Ipod which is used for music, movies and pictures, the Iphone which is a phone similar to the Ipod but it is a phone, and the iMac computer which is very popular throughout the world.
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