Supply and demand analysis of Apple Inc. products
The concept of supply and demand are closely related and need to b well understood in order for any business or company to progress since they determine whether a company will make profits at the end of the financial year or make losses. There ae several factors that influence or affect the supply and demand of products in the market, some of which are price related and others not related to price. This paper will hence look into various factors that influence the demand and supply of the Apple products and how the interaction helps shape the future of the organization in terms of quantity produced and the changes in their products and innovation.
The two non-price variables that affect the demand for the Apple products are customer income and the geographical region. The Apple products are often priced for a given group of income and often target the high earners as opposed to the low earning groups. Apple uses the premium pricing strategy that helps them to define their customer base and in most cases drive up sales (Nielson S., 2014). The premium pricing strategy helps Apple concentrate on the high earning population and monopolize this market as the customers keep buying their products for the pride of belonging to a select class. This hence drives up the quantity demanded in order...
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