ECO 561 Week 4 Apple iPhone Business Proposal

$10.00

You will apply economic principles presented in Weeks One through Three in this week’s assignment. Your assignment will be reviewed by your facilitator in week five and should be revised as necessary based on feedback as the first part of the final assignment in week six. 

 

Select a new, realistic good or service for an existing industry.

 

Write the economic analysis section of a business proposal.  This will include statements about the market structure and the elasticity of demand for the good or service, based on text book principles. You need to create hypothetical data, based on similar real world products to estimate fixed and variable costs.
Required Elements:

  • Identify market structure
  • Identify elasticity of the product
  • Include rationale for the following questions:
    • How will pricing relate to elasticity of your product?
    • How will changes in the quantity supplied as a result of your pricing decisions affect marginal cost and marginal revenue?
    • Besides your pricing decisions, what are your suggested nonpricing strategies? What nonpricing strategies will you use to increase barriers to entry?
    • How could changes in your business operations alter the mix of fixed and variable costs in line with your strategy?
  • No more than 1400 words
  • Your proposal is consistent with APA guidelines

Click the Assignment Files tab to submit your assignment.

 

Description

ECO 561 Week 4 Apple iPhone Business Proposal

Apple iPhone Business Proposal

Apple launched its first phone known as the iPhone in 2008; the phone is designed to target people who wanted and needed to communicate and store information. The phone is design to provide a wireless Internet connection, music, and talk into one. The features of this phone include a 3.5 touch screen without the aid of a keyboard, using more than one finger to control the phone, and shifting the screen to view in different modes. The market for the phone was small in 2008; but today the phone has taken over. In this paper I will present a business proposal for the iPhone addressing the market structure and the elasticity of demand for the phone.

Market Structure

The Apple smartphone is part of an Oligopoly market; an independent market and has its own behaviors strategies. According to McConnell, Brue, and Flynn (2009), “Oligopoly, in contrast, blends a large amount of monopoly power, a small amount of competition through entry, and considerable rivalry among industry firms” (p. 222). Because Apple’s smartphone industry and competition was small, it needs to take control of the market by differentiating the iPhone from others phone in its category. Apple needs to develop a plan that will help them to target the upper class professionals first, next taking over the college students, and finally making the phone a global product. Once Apple establishes this plan, it is on its way to acquiring success in the industry. Apple directed its attention to the iPhone by making it capable of accessing the Internet, downloading music, videos, and taking pictures. To do this, Apple created a phone with a unique operating system that calls for the phone to be connected to a computer for synchronizing, the phone is used with application from the Apple store, and the hardware is different in that the battery has a long life. According to Kang (2013), “The iPhone’s screen size is smaller than most other smartphones, but it has an extremely high pixel density, giving it one of the sharpest resolutions available” (para. 5). Another feature of the iPhone that makes it different from other smartphones is that it does not have a memory s

Reviews

There are no reviews yet.

Be the first to review “ECO 561 Week 4 Apple iPhone Business Proposal”

Your email address will not be published. Required fields are marked *