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Current Market Conditions Competitive Analysis
Apple, Inc was incorporated in 1977 and has maintained financial stability with the inventions of many socially acceptable technological products (Silicon Valley, 2012). The company would now like to introduce a new product to the public. In an effort to ensure success of the new product identity of factors that affect demand, supply and equilibrium prices in the market will be identified, as well as any issues or opportunities that affect the competitiveness and long-term profitability with regards to the new product. The new product has been tested with citizens and proven to be popular among consumers. Recommendations will be provided as to how Apple, Inc. can maximize profit-making potential.
The Apple Company is one of the most successful firms in the cellular phone market. The company has not always been on the top but they found a way to surpass other competitors the quality and pricing of their products. Apple was started in 1976 when Steven Wozniak and Steven jobs joined forces. Wozniak created the Apple I which jobs suggested they try to sell but Apple I was not very successful. By 1980 the Apple III was introduced which increased the sales tremendously and helped to employ thousands of people.
Apple has several products that are very popular today. Apple products are: iPad, iPod, iPhone, Apple TV, and MacBook. The iPad was introduced on January 27, 2010 and offers multi-touch interaction with multimedia formats including newspapers, magazines, ebooks, textbooks, photos, movies, TV shows videos, music, word processing documents, spreadsheets, video games, and most existing iPhone apps. The iPod was introduced on October 23, 2001 it is the market leader in portable music players by a significant margin, with more than 220 million units shipped as of September 2009. Apple currently sells four variant of the ipod - iPod Shuffle, iPod Nano, iPod Classic, and iPod Touch. The iPhone was introduced on June...