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Economic Research

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Submitted By salembaz
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MP3 Player Supply and Demand of the Market
Abstract
A brief research report along with an analysis of data of: the supply and demand of the MP3 Player market. This report includes statistics in regards to target market, market share, as well as elasticity of demand and supply of this good. The paper also details the affects of some complements and some substitutes for in market.

Introduction
In this research paper we will analyze the supply and demand of the MP3 Player market. We will start by getting acquainted with the general scope of this market by looking at characteristics such as the state of the market, the competition, and market share. When analyzing supply, we will consider certain market trends and economic principles such as the various determinants of supply and its elasticity. Likewise, we will consider variables and statistics when discussing demand. We will also analyze the differentiation between a complement and a substitute in this market, and why it is important to consider various interpretations in this regard.

Market
The MP3 Player market has been growing steadily over the past decade. As of 2006, 20% of Americans over the age of 12 own an MP3 Player and 6% of people own more than one. Over a five year period, ownership of MP3 Players has almost doubled (ISPOS.com)1. Because of the great demand, many firms have been working hard to establish their brands using unique selling propositions. These firms include Apple (iPod), ScanDisk (Sansa), Creative (Zen), Sony (Walkman), Microsoft (Zune), Archos, and Samsung. Competition amongst these brands has been competitive yet imperfect. Because of the large number of firms and the different sizes of each one, one may consider activity in this market an example of both oligopoly and monopolistic competition. As of 2008, Apple is dominating the market owning 71% of the total market share(NDP

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