FIN 370 Week 3 Learning Team Assignment

1676 Words Apr 26th, 2014 7 Pages
Learning Team: Current Market Conditions Competitive Analysis
Tina Beauro, Nerkeda Butler and Laninga Spencer
December 4, 2013
H. Todd Young

Learning Team: Current Market Conditions Competitive Analysis
This paper will give a short history and descriptions of Apple’s I Pad minicomputer. It will also give factors that affect demand, supply, and equilibrium prices in the market. Issues that Apple faces that affect its competitiveness will also be addressed. Lastly, this paper will identify the long term profitability of the iPad including, price elasticity of demand, technological innovation, and cost structure.
Steven Jobs and Steven Wozniak were friends in high school, which shared like interested in
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Consumer(s) can’t readily identify / understand the importance /significance of having more capabilities, memory, storage, etc. The consumer(s) would ultimately shop for and purchase the iPad that’s more conducive to their needs. Although apple has is very technological innovative, but as it relates to price elasticity of demand; the quantity does not matter (all the changes, modifications, additions, advancements, etc.) consumers will still purchase the cheaper iPad (cost efficient)
Technological innovation is an opportunity for our organization, (Apple) to face that affects our competitiveness and long-term profitability with regards to the iPad. Through technological innovation our organization will be able to make improvements to something that already exists; such as the Apple iPad. Is the improvement to something that already exists. Technological innovation will always have a huge impact on Apple Corporation. As it directly relates to the iPad, with the technological innovation, we are able to re-invest and re-invent the iPad. As with any product of this magnitude, the cost will increase, more features will be added, more storage, more variability, etc. As long as we are innovative and have a willingness to be creative we will consistently bring new items to the market that will steady
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