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Market

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Submitted By hotcoffee47
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Current Market Conditions Analysis Many people dream of becoming a business owner or even running a militia million dollar company. Imagine planning and organizing a large corporation when considering developing a new product or service. Ironically this process always starts with a vision or a dream. For instance according to Mactrast (2013), the very first Apple iPod contained an Easter egg; that was accessible by circumnavigating to the ‘About’ menu and holding down the center button for a few seconds (12 Interesting Facts about Apple). This products development emerges from an individual’s visions and dreams. When offered the opportunity to turn ones dreams into reality team A. acts swiftly; the marketing director at Apple Inc. is requesting for team A to create a competitive market analysis to determine the new products; the iPad mini’s potential success. Team A’s analysis will focus on Apples primary competitor in the product’s market. This analysis will help the team produce recommendations on how the organization can maximize profit-making potential, and successfully compete in the new market. The team must also consider the effects the recommendations will have on the corporation. Apple Inc. is an American worldwide corporation founded on April 1, 1976; the main headquarters is in Cupertino, California. Apple Inc. is an international corporation that bazaars and enterprises software and hardware for computers and electronics ("Apple Inc.," 2013). According to Wikipedia (2013), Apple began publicly marketing their products to the public at the “Homebrew Computer Club.” Apple enterprises, cultivates, and retails consumer microelectronic software, for individual and business PCs and consumer electronics. Several of the corporation’s products that are more popular are the Mac computers, the iPhone, the iPod that plays music, the PC tablet iPad and the smartphone corpora ("Apple Inc.," 2013). These systems allow customers to download and acquisition audio such as music, videos, cinemas, and books. This allows shoppers to embrace the revolving development of software. According to Wikipedia (2013), the iOS and the OS X operational systems, also includes media browsers for iTunes, Safari web, etc. which drive inventiveness and fabrication suites. Apple currently sustains 406 retail stores that stretch among fourteen nations and also includes an online shopping option for Apple and iTunes customers. This corporation ranks second in the nation as the largest openly traded market that sustains a massive capitalization, with an approximant value of 414 billion dollars ("Apple Inc.," 2013). The popularity if the tablet industry increase as technology continues to advance. The desire of the Apple iPad shares the spotlight with the new Apple iPad Mini. Consumer’s excitement of tablets increases the demand of the product. The ability to carry a portable notebook over a large laptop is one factor that affects demand. Samsung, Amazon, and Google are mainstream competitors with the iPad-Mini and what they have to offer is another factor. The Kindle Fire HD by Amazon is an e-reader and tablet at a cheaper price. This Kindle Fire HD has appealed to those not able to afford the iPad- Mini, therefore affecting the demand. Cheaper is more appealing to consumers although the price of the iPad-Mini is drastically cheaper than the original iPad. The iPad-mini is on average $130 more than the competition.

Talk of a next-generation iPad-mini is causing supply to slow down. Consumers are waiting on the release of the new product that may not be available until 2014. Updating the retina display is causing the delay in the release of the product. Apple has decided to use competitor Samsung to produce the retina display. An ongoing lawsuit between the two companies for patent infringement is causing a buzz on if Samsung will provide the product. LG is also increasing its supply to Apple, therefore competing with Samsung for the retina display product. There is currently a shortage in retina technology in Asia, which is the main effect on supply. Achieving market equilibrium is crucial to a company in a market of huge contenders. Executives must make sure the new tablet meets the demand necessary or the lack of supply could take months for the company to recover from the decrease. Equilibrium price goes up if the supplies decrease with a high demand. Apple iPad, Samsung Galaxy Tab, Amazon Kindle Fire HD, and Google Nexus are some of the competitors in this market. The customers in this market are consumers who want something smaller than a laptop with the same benefits. Business executives, students, and sales representatives are a few potential customers because of the freedom to travel and work with a product smaller and accessible. There are several issues and opportunities that “Apple the Art of Technology” faces in the industry. This includes those that affect the competitiveness and long-term profitability that the company has to offer to its consumers. The main factors in this industry that affect demand are the quality and performance when developing a product is conducive to the customer’s choices (Swire, 2013). From the customer perspective, he or she may be willing to spend $225 on a 16 GB Kindle Fire from Barnes and Nobles, but remember that Apple would be market a new Apple iPad- mini in comparison to the Kindle Fire (Swire, 2013). For example, the merchandise is available in various store, and it features along with performance has an attractive package instead the customers purchase the competitive item. The wiliness to purchase, the alternative product, or the customer taste will affect the supply and demand of the price elasticity of demand in marketing of quantity of the Apple iPad- mini (Colander, 2010). Apple is an essential age to technological innovation and it has created numerous products within the market of technology. The new product that “Apple the Art of Technology” will introduce to the competitive market. The Apple iPad- mini drives the demand because of its features, attractiveness in addition to the complete attribute it has in compatible to the bigger-sized iPad. The change in the model can enhance the ability for downloading books, increase in production by producing a more efficient product that can offer a better avenue for marketing the Apple product (Colander, 2010). According to the text, “technological change drives cost down, and can overwhelm diseconomies of scale, causing prices to fall more and more” (Colander, 2010, p. 306). For example, the Kindle Fire from a customer perspective compares its attribute to the Apple iPad-mini found that the two model performance had a slight difference in battery life, weight as well as customer price. The difference in the market comparison of price could cause customers to believe that the iPad-mini is overpriced (Colander, 2010). This disadvantage in technological innovation will cause a shift in demand for the competitive market to gain in revenue instead of the new product in Apple.

The relationship between the amount of labor and capital employed and the law of diminishing marginal productivity depends on the competitive market of the marginal product of labor as it functions in quantity of labor production. The shift in the labor demand curve can shifts the labor because of the increase or decrease in the demand. For instance, the decisions that people make to purchase an item can affect the product because of opportunity cost.

Cost structure is the handling of the costs of producing a product. About 70% of the components of a tablet make up the cost structure. Sales, supplies, expenses, research, labor, and marketing are costs that make up cost structure. Variable and fixed amounts make up the cost structure. Direct labor and overhead from manufacturing is an example of fixed cost. Fixed cost can change if the company signs a new contract, expands, or if there is a change in laws. For example, the need for more manufacturing plants and employees will cause the fixed cost to increase. Production supplies and materials are example of variable costs. Variable costs can change according to supply and demand. Inflation can also affect the variable cost.

When appreciating or examining Apple Inc.’s economic situation when producing the iPad mini, team A must ruminate questions surrounding measuring the corporation’s Industry and competitive surroundings. This will allow the team to align the corporation’s plans and goals and assist in intertwining strategic management. Apple must continue to encirclement optimal resources, therefore making room for secure maintainable growth throughout the corporation. Taking precise actions will help Apple build an indestructible customer base and market share. Not only will Apple continue taking advantage of the corporations current resources they will also notice a development within recording their triumph of announcing ultramodern, first-class electronics to the multitude of consumers, innovative variations, and trademark recognition. Another way that Apple can improve is to implement cost-cutting procedures because Apples products are more expensive than their competitor are in the industry. This tactic will also assist with accumulating a higher share for their market.

It can also affect the markets in others factor along with the marginal revenues and costs when hiring, supplies, and productivity. The change in tastes can adjust the number of workers to increase or decrease as the labor curve decrease. This will happen as the alternative of market rises; workers will switch employment and cause the supply for labor to decrease. This affect the marginal product because worker decreases, therefore, value of marginal product decreases and causes price to increase.

In conclusion, the camera shot of a valuable customer enables Apple’s pricing and position to offer a new product within their market because of reputation, feature, and performance. The Apple iPad-Mini is the exceptional value of the full version design to emerge into the tablet market. This helps improves the customer’s perception and product quality. The change in technological innovation enhances the ability to continue offering features that are attractive to customers who drive supply of demand. Marketing products in demands enhance alternative costs to the industry. Those changes in the supply of demand can increase or decrease an organization because of the diminishing of marginal productivity.

References
Apple Inc. (2013). In Wikipedia.

Retrieved from http://en.wikipedia.org/wiki/Apple_Inc.

Colander, D.C. (2010). Economic (8th ed). New York, NY: McGraw-Hill

Swire, Donald. ( 2013). The Lauch of Apple’s iPad Mini-a Customer Value Perspective. Retrieved from htttp://www.cval/com/pdfs

Mactrast. (2013). Retrieved from http://www.mactrast.com/Jaunuary 07, 12 -interesting-facts-about-apple/

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