Market Research Analysis

In: Business and Management

Submitted By karentroxel84
Words 2339
Pages 10
Competitive Organization and Product in Organization
ECO/365

Market Analysis and Recommendations Team B is a strategic planning group assigned to complete a competitive market analysis of the smart phone industry in preparation for our company’s potential new smart phone product. This paper is intended to summarize the research findings on the current leading competitor in the market, the iPhone s5 and our recommendations on how to successfully compete and maximize profit in the smart phone market.
History of Apple
Apple Computers was founded in April 1976 by Steven Jobs and Steven Wozniak. The company built computers and operating systems that were revolutionary for the industry. The company has had some competition, and therefore has had some ups and downs financially. Top management in the company has changed over the years and the company had difficulty competing with other computer companies. However, in the late 90s and early 00s the company had an increase in profits because of innovative products. In 2001, the company introduced the iPod. This little device was just a small music player. It played and stored music files that the customer could download on the Internet. Apple Inc. dropped the “computer” out of its name in 2007; the same year it introduced the iPhone (Sanford, 2013). The first phone made by the company was a success. In the following years the company continued to improve its product; introducing the iPhone 3g, iPhone 3gs, then the iPhone4, iPhone4s, and now the iPhone5, iPhone5s, and the iPhone5c. The iPhone 5 has a new ios7 operating system, and 64 bit architecture. The 64 bit architecture has never been put into a phone before so this is a very innovative step in the smart phone market (Worstall, 2013).
Effect of Demand, Supply and Equilibrium Prices
With the iPhone 5s, Apple is currently facing shortages. The current…...

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