Profit Margin Benefits

A technological improvement in production means that more of that good can be produced. When more of a product can be produced then more of it can sell thus making the company more money at a lower cost to them. A supply curve shows the

Technology can greatly improve the industry through new ways of producing its products. The use of an innovative technology can improve the overall efficiency of the industry which can dramatically improve the supply of its finished goods. New technology may also be a source of competitive advantage as advanced technologies may minimize production costs which will translate to competitive prices.

The broad world of technology is rapidly changing and companies need to constantly be revolutionizing to stay ahead of the curve . If you can figure it out you will be successful in all categories of your company. It's not just mass producing an item it's about the product and what it does and how it helps people in their daily lives. If that doesn't happen you won't be a successful business owner. Without a doubt technology greatly improves our lives in recreational, personal, and industrial fields.

Technology have create a way for countries to save on exporting goods and improve the transportation of those goods. According to Oatley, the transition into improving technology allowed countries be able “to trade heavy commodities across long distance” (15). This allow imports to be received from countries in a shorter amount of time. In addition, it allowed for larger quantities to be exported to them. For instance, without the access to technology there will be probably a limited amount of goods that china or India has in the U.S. Technology have allowed consumers to purchase products from all over the

Technology place a lot of challenges for the marketers, it affects the type of product that a marketer can propose; technology have changed products like typewriting machines into a more capable and proficient keyboard in computer systems. No one can stop the expansion and progress of technology, but one can adopt and learn from these

Businesses will increase the production of goods and services that cost more money because they will be able to increase their profit margins. In the same way, when prices decrease they will scale back the production of those products because they will not be able to as much of a profit. Companies will always do what is best for them, and the number one reason for them being in business is to make money. What the consumer wants will always dictate they type and price of goods and services that are supplied. When a certain type of product comes out or starts to increase in sales it directly affects the market for that product or service. An example of this is when iPods came out and got very popular. The price of the product was high initially, but they were still selling very well. Apple increased its production because they were able to make greats profits from it. After this happened there was an influx of other mp3 players from a plethora of other electronics companies. Since they had new found competition, Apple was forced to lower the price of the item. Consumers still preferred the iPod over many of the other mp3 players on the market, and because of their presence, the iPod became much more affordable.

There are countless amounts of profit driven advancements in technologies or even marketing tricks and simple

On one side technology has molded an astronomical part of society, what once could only be done through hard labor in a few weeks or months; can now be done in a few hours or even seconds. An example of this is alternating current versus direct current, which is better? Direct current is when electricity flows in one direction consistently. Batteries, like the ones you may use in a TV remote rely on DC. Alternating current is when the electricity passes back and forth between points instead of just constantly flowing through. A cell phone would be a device that uses AC. Technology has also made the deliverance of mail easier. Handwritten mail had used to be physically sent to its recipient now you can send it online in just a mere few clicks. If you needed to go to

First and foremost, technology allows us to be more efficient in the things we do and reduce the amount of labor and time we invest to do something. Take for example, a car or any type of vehicle. These modes of transportation are now readily available and are technologically

Competition going as per the theory causes commercial firms to develop new products, services and technologies, which would offer consumers greater choices and better products. The greater selection typically causes lower prices for the products, compared to what the price would be if there was no competition or little

In other words, it refers to ‘the technology issues that impact on how an organization brings its product or service to the market place’. The role of the internet must also be taken into consideration. A company must ask itself if there are any the technological advancements taking place, or if the government is investing on technology research. It is fundamental to keep in touch with the latest technological improvement in order to be more efficient. Businesses are aware that ‘good technological infrastructure leads to the better production resulting in reduced wastage and lower

The cost-volume-profit analysis (CVP) is used to help companies determine breakeven points and pricing for their products. It is a "method of cost accounting 在ased on determining the breakeven point of cost and volume of goods" and is "useful for managers making short-term economic decisions" (Investopedia, 2013).

Pricing strategy is not a one-size-fits-all proposition. As you define the marketing strategy for your company, including your target market(s), competitive advantages, and overall marketing mix, the range of appropriate pricing strategies emerges. For example, an exclusive, highly specialized product targeted toward upscale consumers would logically be priced at a premium. However, at its point of introduction, it may have to be priced in line with the competition until it is established as the market leader. At the same time, mass-market products may be priced at a lower level. You should consider multiple factors when creating your pricing strategy.

I believe technology as a whole, appears every day and is all around us. I think that today we take the majority of technologies for granted and we do not give them the credit they deserve. Let us take a few examples which we use every day, the lights in our houses, the televisions and also the mobile phones we use on a daily basis. However we must also consider the items which are non electronic, the medication which are constantly being improved to support a wide range of cures for diseases. We must also ask ourselves the question, what problem does society face in regards these technologies? In 2014, we look back at the previous 5 or 6 years and we saw that society faced a great challenge which was that of the recession, the development of technologies in those 5 or 6 years have been shocking in its strength. This recession has had nothing to do with the immense production and has perhaps strengthened growth. These companies have played constantly on our needs throughout this spell. Take Apple for example, every year they produce a new, updated model of their superior iPhone. When these come on the market they usually begin in price at about 600 euro. However, there has been such demand for these phones at crazy prices, this year they brought out a new model of iPhone at a lower cost such to cater for those who need these high performance phones at a lower budget. So Apple is a clear example of a company who has constantly strived through these society problems.

Technology can decrease the time it takes to accomplish a task, which can ultimately save money and increase productivity. Communication speed also increases. Instead of sending a message by postal mail, using email or fax can deliver it instantaneously. Technology can also speed up various manufacturing processes, as machines and computers can do work that was once performed by humans more quickly and efficiently.