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New and Improved

In: Business and Management

Submitted By lamplook
Words 1619
Pages 7
As with every new and improved version of the latest and greatest must have item, there is always a large amount of clamoring in the media and among the masses with every new release. What Elmo doll children will want for Christmas is discussed in the news in August; football tickets for the Boise Broncos are swept up in minutes for bowl games; and the biggest of them all, what new wireless Smartphone or tablet product is becoming available. Amazon has announced a new tablet product within the last two weeks, the Kindle Fire, which has made the wireless gadget community take notice. As with most companies that want to maximize their yearly profits, this product is being introduced at the beginning of the holiday buying season. Their positioning of their product, the amount they have stocked, and the eventual purchasing that is seen will let them know if their product will be successful within the economic laws and other determinants of supply and demand. It was speculated last week by industry that the Kindle Fire’s price of $200 will be an amount that consumers will not baulk at like the basic iPad’s $500 price tag, and this week industry may have been proven correct. It is being speculated from inside data that Amazon is getting orders for the Kindle Fire at around 2,000 units per hour, or about 50,000 units per day. With this amount of market demand, the Kindle Fire will possibly outsell in quantity both what the iPod and iPad did on their initial releases. With as much demand as there currently is, and the price of the Kindle Fire being held constant, the other determinants of demand seem to be playing a large role in what is being seen with the largest being the prices of competing substitutes. The iPad, iPod touch, and the Android tablet, may seem a bit too steep in price for certain consumers and the cost of the Kindle Fire may be just...

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