Apple Iphone Life in the Technology Lane Essay - 928 Words

Apple Iphone: Life in the Technology Lane Apple iPhone: Life in the Technology Lane 1. Apple CEO Steve Jobs alluded to the price a customer may have to pay to own an iPhone when he said that the steep and sudden price change was simply part of â€Å"life in the technology lane.† What did he mean? Beyond the simple exchange of money, what else might the price of such a product include? Life in the technology lane can be defined according to Steve Jobs in the Apple website, as a â€Å"bumpy road†. This road will always be facing change, innovation, and improvement. There will always be early adopters who buy a product before a cutoff date and miss the new plus, new price, or new adaptation made to the product. For instance, if you are of the†¦show more content†¦Apple was engaging in price skimming. But because demand is elastic in the technology market, achieving a bigger market share would imply having lower prices, which will significantly cause changes in the quantity demanded. Once the sales at $599 began to slow down and holiday season started approaching, Apple realized that they had to lower the price on the iPhone. As Jobs stated, he was â€Å"willing to make less money to get more iPhones out there†. This price drop would be compensated with the increase in the quantity demanded. This took place, right after having the customers pay the higher price and the demand had started decreasing since its launching date. 3. Discuss how the availability of substitutes affects elasticity of demand for Apple products such as the iPhone. Elasticity in the demand can be defined as how the consumers respond to a change in the price of an object. A substitute is a good that can be used in exchange of another good. The iPhone entered the cell phone market. This market has multiple brands, types, and pluses in the cell phones that make them adapt to the customer’s needs. There is a phone waiting for any type of consumer, with any kind of purchasing power, or any kind of need. Because the iPhone was incurring into this market filled with substitutes, it was going to face an elastic demand. Although theShow MoreRelatedApple Mac : An American Multinational Organization Essay3386 Words   |  14 PagesName: Title: Institution: Abstract Apple Mac is an American multinational organization that makes and offers computer programming, computers and purchaser gadgets. It is surely understood for its equipment items like iPad, iPhone, iPod and the Mancintosh line of PCs. It is one of the biggest organizations internationally furthermore the most esteemed Technology Company in the entire world. Fruits depends on best quality for their clients as of their item is consfiguration to give the best yieldRead MoreApple - Table of Contents2353 Words   |  10 PagesTable of Contents Table of Contents i-ii Executive Summary iii 1. Background of Apple Inc. P.1 2. Apple Inc.’s Brand Development Decision 1. Brand Identity 1. Salience dimension P.2 2. Brand Meaning 1. Performance dimension P.2-3 2. Imagery dimension P.4 3. Brand Reponses 1. Judgments dimension P.4-5 2. Feelings dimension P.5-6 4. Brand Relationship 1. Resonance dimension P.6 3. Marketing mix Read MoreApple Inc.2382 Words   |  10 PagesApple: An Introduction Apple Incorporation is one of the largest organizations dealing into Information Technology. Apple has a host of products ranging from Laptops, Desktops, Mobile Phones and Multimedia Devices. The company has been extremely innovative in the field of multimedia and it owes it success to one of the greatest innovators, Steve Jobs. The company has always believed in innovation and that is the major reason why it has been so successful in the mobile phone segment. In recent yearsRead MorePositive Attitudes3697 Words   |  15 PagesAdvert Iphone4s p Appendix : Iphone 4s Christmas advert List of figures Figure 1: Figure 2: Maslow‘s hierarchy of needs Figure 3: Figure 4: Means-end chain for the brand Apple Figure 5: Positioning strategy of Apple product Iphone4s Figure 6: Translate mean-end chain into Iphone4s Figure 13: Product placement in Apple store Figure 14: Brand evaluation using Fishbein‘s multiattribute Introduction (own words) In June 2010, Apple released the fourth iPhone4 and aRead MoreThe Invention of Modern Technology1455 Words   |  6 Pagesï » ¿The invention of modern technology has affected the lives of individuals from the immersion and creation of the Internet to mobile devices to smart phones. It has made communication between people to people faster, more accessible, and easier. Modern technology has created the end of distance thus making the world a smaller place in terms of making connections and communication. For example, a person from the United States may connect to somebody else across the ocean with just a single phone callRead MoreUnderstanding the Structure and Practices of the Apple Company3042 Words   |  13 PagesIn an effort to increase its efficiency Apple has tried to reduce resources and increase outputs and it has achieve it to a certain point by producing its products to China where the land, labor and raw materials are more cheaper that those to the USA. This action has had its impacts because we all think that the products made in China do not have good quality, this is to a certain extend true, but not the all truth, the real truth is that in China you can find all the quality you want from the cheapestRead MoreWhy Do Entreprenuers Need Public Relations?5111 Words   |  21 Pagesand especially home towns because most of the entrepreneurs mostly didn’t have anything growing up like families in poverty. So with the ambition and the mind to want better for yourself is what you have you to do in order to get what you want out to life such as a making a successful product, music groups, films and franchises. the Public Relations comes to mind in this manner because the image you can portray can be a good or bad and if you look bad you will have to fix yourself to be presentableRead MoreMarketing Plan for Sonic6426 Words   |  26 Pagesfeatures at a value-added price for consumer and business market in order to compete with the existing PD A makers such as PalmOne, Samsung, Nokia, HP, Sony, Apple...and so on. II. SITUATION ANALYSIS Sonic is entering in a mature market such as USA, Sonic 1000 will face many challenges which come from the competitors, development of technology, industry consolidation, and pricing pressure as well. However, Sonic 1000 offers a unique combination of exclusive features and functionality at a valueRead MoreBusiness Management4681 Words   |  19 Pageshotel owners sometimes find ways to find effective ways to manage their assets, such as through franchising and acquisitions. This makes the intensity of rivalry stronger between competitors Power of suppliers  §Ã¯â€š §Ã¢â‚¬ ¯ Technology: Due to the increasing need of a sophisticated technology systems, well known hotel such as Hilton should be able to provide their guests with the best possible service and equipment (Marketline, 2011)  §Ã¯â€š §Ã¢â‚¬ ¯ Staff: As a labor intensive industry, the quality of the serviceRead MoreCesar Zepeda-Soto. Mr. Wilson. 6Th Period . Should Imports4323 Words   |  18 Pageswell, BMW from Germany and etc. Many of the common necessities of everyday life of an American citizen is from a foreign country, meaning that they are imported into the United States. Foreign cars and other foreign products should not be limited or restricted by the law because they are essential to everyday life of an average American citizen. If these foreign products were limited or restricted, that would mean the life of many Americans will be impacted negatively. This essay will explore the