Apple Changes in Pricing & Quantity Business & Marketing Essay (Essay Sample)
Find an article in a recent newspaper or magazine illustrating a change in price or quantity in some market. Analyze the situation using economic reasoning.
Has there been an increase or decrease in demand? Factors that could shift the demand curve include changes in preferences, changes in income, changes in the price of substitutes or complements, or changes in the number of consumers in the market.
Has there been an increase or decrease in supply? Factors that could shift the supply curve include changes in costs of materials, wages, or other inputs; changes in technology; or changes in the number of firms in the market.
Draw a supply-and-demand graph to explain this change. Be sure to label your graph and clearly indicate which curve shifts.
Apple Changes in Pricing
Apple Changes in Pricing
Apple is one of the leading global technology firms that has made significant strides in the field of technology. It manufactures iPhones, iPads, software, and computers. The company was established in 1976 by Steve Jobs and friends. The skills used by apple for its success is the designing of products based on consumer needs and demands. Apple has continuously dominated the markets it has penetrated but lately, aggressive competitors, such as Samsung, have gradually been snatching part of its market share. The article delves into the variations that have been experienced by changes in pricing and supply of apple's products.
According to the article, the demand for Apple products has been high due to superior service delivery. However, Apple has had issues in keeping up with the demand and supply of the product. The firm has been surpassing the company goals since 2012 due to good referrals from satisfied customers (Gupta, 2020). However, this has declined due to the complexities in the prediction of demand and supply. The graphs presented shows the changes in demand and supply that Apple has been experiencing (Gupta, 2020). Due to the high demand for iPhones, Apple has constantly been faced with the problem of meeting consumer demands, which in turn affects the revenue gained by the company (Gupta, 2020). However, the strategy applied by the company is such that it can limit the sales of a product and as such it could raise the anticipation of another generation of iPhones. Through the controlled supply of the product, this company can set sales growth and control the trend
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