Current Market Conditions Competitive Analysis

Current Market Conditions Competitive Analysis

Gabriel Cathey, Laci Morrison

ECO/365

October 20, 2014

Instructor: Paul Andoh

Current Market Conditions Competitive Analysis

In today's competitive market, there are many factors which affect supply, demand and equilibrium prices. Understanding the competitive forces within a market is essential in order to be successful. With the continuous advances of technology, cell phones have become the first choice of communicating versus the dying age of the land line. Our team has chosen the competitive world of telecommunication along with all that is involves in it.

Telecommunication Advances

Developed almost thirty years ago by Dr. Martin Cooper, a Motorola researcher cell phones are electronic devices used for two-way communication. Cell phones are primarily used to keep people in touch with family and friends or to conduct business and in some cases emergency purposes. Cell phones differ from a cordless phone because cordless phone services are fixed lines in your office or home whereas cell phones are operated by using a global networking system.

Recent studies have shown that the cellular devices have become a massive the market and demand of telecommunication. Not too long ago, there was a time when trying to make a phone call to family, friends, or associates were made on devices with big rotating wheels that contained numbers and alphabets. Some of these telecommunication devices remain at the cost to consumers for a few quarters or two. There also existed a time when telecommunication calls were made at places that entailed several wires extruding from wall outlets, wall sockets or some form of physical cabled wiring apparatus. With the advances of today's telecommunications market, consumers are giving up the notion of using a land line to make calls to those friends, family and associates. Cellular communicating has become available for social networking, business purposes...