Current Market Conditions Competitive Analysis As a strategic planning group at Target, the group decided to develop a new product; a device similar to the MP3 player. This paper will discuss the results of the competitive market analysis and the products potential success after comparison to the primary competitors in the products market; Apple, Inc. It will also discuss a short history on Apple’s MP3 player, the factors that affect demand, supply, equilibrium prices in the market, and any issues or opportunities that would affect profitability.
A Short History Apple Computer Company got its start in the early seventies when the two cofounders wanted to create a computer for every person. Steve Jobs and Steve Wozniak got together and started creating one of the first personal computers. After CEO Steve Jobs was forced to leave the company and then return after ten years of working with other technical companies. In 1996, he made his return and they began to look into the music industry as there next big idea.
In 2001, the IPod was born and it swept the music industry by storm. They had invented the new way to buy store and play music. The new way to digitally create, share, store, and play music was in the format of MP3. This format makes it very easy to store the music and play it back without any loss of the musical content. MP3 stands for MP is short for the Motion Pictures Experts Group (MPEG) and the 3 is for the layer that the music is written to.
The IPod has
The opportunities that afford us are enormous! This is the first product on the market and since this is a technology society, it will create excitement in our culture. The purpose of this product is to provide a more convenient product for parents to help in transporting the child from place to place in a safe manner. The car can be operated while the parent is driving the by the car seat remote control. The
Chatter Box is a Cell phone Manufacturer, which has been in business since 1990. Our company has stayed in business so long because of the ability to provide customers with reliable and durable products. We have not had many issues keeping up with the advances in technology; however, recent research has shown us that the competition for cell phone is growing every day. We have also found through extensive research that more customers are moving away from computers and laptops and moving toward wireless, easier to carry tablets. Therefore, Chatter Box has come up our own version of the tablet; we expect our product to do very well
In 2010, in reaction to rumors of a 7-inch tablets being introduced into the market, Steve Jobs simply said, “7-inch tablets are tweeners: too big to compete with a Smartphone and too small to compete with the iPad” (Chen, 2010). While Apple has stayed true to this, many tablet manufacturers have introduced tablets smaller than the iPad, and they are having success. Samsung has introduced the Galaxy Tab, which is generally just 7 inches, although it also comes in a 10.1 inch version. flouting into a market with so many sellers is easy, but success is not guaranteed. One must look at the firm considered to offer the most competition,
World Of Warcraft derives from the Warcraft series developed by Blizzard Entertainment. World Of Warcraft has been one of the leading multiple player online-based games on the market for years since its initial release. The game maintains a high level of subscriptions that cost a fixed rate of $15 per month. The game itself once controlled over 50% of the multiple player market shares in 2006 for the western region. Subscriptions have reached more than five million by 2006 and exceeded 10 million subscribers for a 2nd time by the end of 2012. Subscriptions for this game have even exceeded 14 million in year 2009. At
In conclusion, Sodexo is reshaping its industry globally. This analysis shows everything that Sodexo represents such as the history, how they affect the market such as demand, supply, prices, etc. and issues that the company has faced and possibly will face in the near future, along with what Sodexo could do to fix the problems and increase the revenue of the company. This report includes all of these things to inform what Sodexo is and what it could potentially do in the
Companies use price elasticity as a tool to identify the overall change in supply or demand of a product compared to the movement of price. When deciding to market a new product like The Globe, we discussed what the price should be. We use elasticity of demand to determine whether our profits will go up or down if we set a lower price than the current price of the Roku. Since there are other possible alternatives for our consumers to choose from when it comes to streaming devices, it is very important that our product meet the needs of our potential buyers.
They say life is short, eat dessert first. Now thanks to the innovative people at Maine Root Handcrafted Beverages, you can. At the request of the Marketing Director for Maine Root Handcrafted Beverages, the following is a competitive marketing analysis to determine a new flavored soda’s potential success. The analysis focuses on our primary competition, factors that support our recommendations for maximizing the profit-making potential, and successfully compete in the new market.
Competitor analysis is a tool used in marketing as well as strategic management whereby an assessment of the strengths and weaknesses of an organizations both current and potential competitors is done. A useful technique in carrying out a competitor analysis is the construction of a competitor array. This is done through various steps first identification of the industry that the organization wants to venture into. This encompasses the scope and nature of that particular industry (Abahe.co, 2011). The second step involves the determination of competitors for the intended product. The third thing is identifying customers and the benefits they expect from the organization. It is also crucial to find out the key factors of success in the industry. Through this analysis the organization acquires both defensive and offensive strategic context so that it identifies threats and opportunities that are present. Competitor analysis is therefore a very crucial and essential component of an organizations strategy (Entrepreneur Media, Inc 2013). Cellutant electronics, a large corporation is thinking of expanding its market scope and start producing tablets. As part of the strategic planning group the marketing director has asked the team to carry out a competitive market analysis so as to determine the product's potential success. The paper will focus on cellutant electronics primary competitor in the products market.
With the monumental success of the iPod, Apple expanded in this industry by becoming one of the largest purchasers of flash memory in the world. There was also the development of complementary products lines such as headphones, docking stations, cases, etc. Though Apple was already superior to competitors, nothing gave them a bigger advantage than the creation of Apple’s iTunes store. After its launch in 2003, sales shot up to 733,000 units and continued to explode (Yoffie & Kim, 2010). Customers thoroughly enjoyed the ease of use as well as music selection allowing iTunes to sell 10 billion songs and become world’s largest music catalog.
The shifted new strategy of Apple was initiated by the release of iPod in 2001, followed by the iPhone in 2007, then by iPad in 2012. It was the iPod that brought significant growth in Apple. Initially, the iPod was just another MP3 but soon became the icon of the digital age due to its sleek design and user friendly interface. Moreover, iPod could sync with Windows as well as a Mac and offered accessory markets. Soon enough all the competitor in MP3 market had to face the challenge of consumers comparing their model with iPod. However, the greatest challenge that the competitors had to face was the introduction of iTunes store.
Steve Jobs and Steve Wozniak was founded Apple Computers on April 1st, 1976. Throughout Apples’ history there are a number of events that helped shape the company as we know it today.
Owners of the famous iPod who selected the APPLE© product for its stylish design who are already accustomed to building their play lists and enjoying them anywhere and everywhere; this segment is considerably well-off -financially speaking- as the price of iPod is relatively higher than other MP3 players available on the market back in 2003; However, to be noted: not all iPod owners are very computer friendly or broadband owners, but, they have a high brand loyalty to APPLE© and they are quite keen on showing off their prized new toy (iPod) this segment is probably the most valuable to APPLE© as they create a lot of PR
From the humble beginnings of a portable music player to the empire we know today of phones, computers, music players, games systems and of course, if they don’t have it, ‘there’s an App for that’ – Apple Inc. is an innovative force to be reckoned with in the current portable communications and entertainment industry. It owes this success to constant, incremental changes made to its products over the course of many years – closed innovation allowing them to fend off all comers while delivering something unique to the market.
In 1976, Apple was founded by two college dropouts. The founders Steve Wozniak and Steve Jobs used their talents to build what is now a world renowned company with some of the most innovative technology devices. In 1980, the company went public and by 1988 they reorganized the company into four divisions globally. This reorganization reduced the layers of management which encouraged their employees to become even more innovative. The competition in the technology sector was growing at an
The company was started as Apple Computer, best known for its Macintosh PC in the 1980-90s. Despite a strong brand, rapid growth, and high profits in the late 1980s, Apple almost went bankrupt in 1996. Then Jobs played his inevitable role and transformed Apple Computer into ‘Apple Inc.’ which started making non-PC products. This made Apple the most valuable company in the world in 2012.