Management Economics: Market Analysis of Apple

Management
Economics

INTRODUCTION...........................................................................................................................1
MAIN BODY..................................................................................................................................1
1. Description of Apple Company along with its products and services.....................................1
2. Market analysis of Apple.........................................................................................................2
3. Characteristics of company’s current and previous market structure......................................4
4 (a) Operating in a different market structure is more optimal for Apple..................................6
4. (b). Suggestion regarding greater or lesser government intervention......................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Management economics could be defined as the application of different types of
economic theories and concepts that can help to deal with all the issues that are dealt by an
organisation. While planning to meet all the long-term business goals it will eb very important
for all the entities to make sure that they are focusing upon the economic theories and tools as it
can help to find best suitable solution for all the business-related issues (Alkhudary, Brusset and
Fenies, 2020). With the help of management economics, the companies can formulate effective
decision for future so that growth and development for business could be acquired. Present report
is based upon Apple which is one of the largest entities in smartphone industry. It was founded
by Steve Jobs, Ronald Wayne and Steve Wozniak in year 1976. Since the year of establishment,
it is carrying out all its operations successfully and currently it is market leader. This assignment
covers various topics such as description of company, its products, services, history, analysis of
the market in which it is operating and analysis of that the entity had operated under different
market structure or not. Apart from this, assessment of that if the organisation will operate in
different market structure will be more optimal for it or not along with the suggestion regarding
greater or lesser government intervention are also covered in this project.
MAIN BODY
1. Description of Apple Company along with its products and services
Company initially established in 1976 by Steve Jobs, Ronald Wayne and Steve Wozniak.
Apple Inc. is best known for the innovative nature and selling of iPhones, handheld apps,
streaming services and products online. The firm launched Apple 1st in July 1976, which was
standardized chipset device and installed legal capability as opposed to several other devices at
the period. The business has a variety of products like iPhone, ipad mobile machine, Air Pods,
built-in earpieces, smart TVs and watches, making it the highest grossing brand in the world.
Apple's devices are innovative in understanding the wishes and expectations of consumers
around individual behaviour and technical development.
Apple is seeing immense progress over the last 7 years because of their unique and
innovative way of thinking. Apple has produced a variety of great products with impressive
quality and usability, by developing technology (An, Zhang and Adom, 2019). Apple Inc. has
taken important steps to extend the scope of digital technical developments in software
1