Current Market Condition Competitive Analysis

Current Market Condition Competitive Analysis - Current...

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Current Market Condition Competitive Analysis Team C – Christy Baker, Jessica Lewis, Taryn Photos, and Stephanie Wilson ECO/365 February 8, 2016 Christopher Rakovalis
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Current Market Condition Competitive Analysis Apple, Inc is a leader in technology for various products, which include the iPhone. A new product has been proposed, and the marketing director has asked that a competitive market analysis be completed. A competitive market analysis will help to determine the product’s potential for success in the appropriate markets. As a strategic planning group it will be necessary to consider many different things while compiling the current market condition competitive analysis. Some of what needs to be considered are the factors which can affect supply, demand and pricing in the market. Also it is necessary to consider issues and opportunities that can affect competitiveness and long-term profitability for this new proposed product. As a strategic planning group, recommendations on how to maximize profit-making potential and successfully compete with this new product in the proposed market must also be presented. When a new product is proposed for development, many factors which can affect various aspects of development need to be researched and consider prior to proceeding with development. History of Apple and Description of Product To begin Apple was first established on April 1st, 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. Therefore, within this corporation Apple Inc. has been really big on manufacturing computer hardware, software and other consumer electronics. However, Apple throughout the years has kept the competitive advantage by always enhancing and thinking outside the box when creating or reinventing consumer electronics. Take for instance, one of many of their great electronics that they offer and keep enhancing to keep the consumer's interest, is the iPhone. The Apple Manufactured iPhone made its debut on January 2010.
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