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Running head: APPLE’S IPHONE1Apple’s IPhonesAishath Shaahy Habeeb (B1701886)Aibakht Bissenova (B1700795)Vanessa Law Houi Lam (B1701167)HELP University
APPLE’S IPHONES2SummaryApple Incorporated, commonly known as Apple, is without any doubt one of the mostpopular and successful software technology companies in the world at the moment. Apple ismostly popular for its iphones, macbooks and apple watches which are creatively innovatedand updated to the taste of the technologically globalised societies of the world. Thehandphones created by Apple, commonly known as iPhones, are definitely the most trendingand sensational handphones in today’s world. It is most popular for its easy interface, highquality camera and good social networking applications. Apple is ranked 9th place in thefortune global 500 with a whopping $215,639 million as their revenue for the year 2017(Fortune, 2018). For this reason, we would like to choose Apple and their iPhones as ourchoice of company and product.It is of common knowledge that a handphone does not gain popularity andexcel economically only due to its physical features. One of the most important things for anyproduct is its complementary goods. According to dictionary(2018) , complementaryproducts are products which are closely related to each other and are usually used togetherbut are sold separately.In the case of Apple iPhones, some of the complementary productsthat could be listed are the iPhone charger, headphones and applications. The charger andheadphones are produced by Apple and it comes with the handphone as a package. However,some of the iPhone applications are made through third parties and these applications have asignificant influence on the demand for the iPhone.According to Stolyar (2018) the bestiPhone apps right now include Google, Google chrome, Facebook, Youtube and Instagram.These trending applications are used by thousands for daily productivity and entertainmentand it is not only used by iPhone users. Hence, Apple is highly reliant on these softwareengineers to develop and innovate their apps to increase the sales of iPhones. Handphoneshave become a centre of globalisation and no matter which sector we are working in, having
APPLE’S IPHONES3a reliable and up-to date phone is of utmost importance and this is exactly what iPhonesprovide us with. Apple launches a new phone every year, not only with innovative exteriorsbut they make sure the new phones fix any previous glitches from any apps that consumersnormally use.Having a handphone with no application is near to useless which is why Appleensures to provide us with the best complementary applications that they possibly could.In the 21st century we are living in a world which is highly competitive in all ways. Ifwe look at business sectors, firms are constantly trying to beat their rivals by providingconsumers with better quality products or services at best prices. Due to the high competitionthe amount of substitute goods in the economy has increased. Substitute goods are productsthat are quite similar to each other and can satisfy the same functions for a consumer. Thehand phone industry is very competitive and Apple iPhones have always been a product ofinterest. The competitors for iPhones changes with every new release as competing firms takethe new iPhone as the benchmark and try to add the features of iPhones to their handphonesto increase the demand for their product. The latest iPhones released were iPhone 8, iPhone 8Plus and the sensational iPhone X. For these iPhones currently some ofthe competingsubstitutes are Samsung Galaxy 8, Samsung Galaxy Note 8, OnePlus 5, Nokia 8, GooglePixel Xl and Sony Xperia XZ Premium (Field, 2018). These handphones an only duplicatesome features of Apple iPhones such as the exterior and the camera quality. They advertisetheir handphones as phones better than iPhones when in reality the quality of the phones arelower than that of apple products which enables them to sell it in a lower price. However,price and demand of goods and services are inversely proportional and as consumers most ofus will prefer the cheaper one and for this reason the above mentioned products are currentlyseen as the substitutes for the iPhones.Scarcity represents as an economic issue faced when there is unlimited human wantsin a world of limited resources. Because of the inadequate resources, not all human wants and
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