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Management Economics Assignment | Apple Inc

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Added on  2021-02-19

Management Economics Assignment | Apple Inc

   Added on 2021-02-19

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Management Economics Assignment | Apple Inc_1
Table of ContentsINTRODUCTION...........................................................................................................................3TASK...............................................................................................................................................3Overview of Company:................................................................................................................3Factors influencing demand of product: .....................................................................................5Factors that influence the Price Elasticity of Demand:................................................................9CONCLUSION .............................................................................................................................11.......................................................................................................................................................12
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INTRODUCTIONEconomics simply implies to examination of various variables and tasks related toeconomy and market environment like supply, demand, theory of scarcity etc. Businesseconomics is particular area of economics which relates to complete study of organisational,economics, environmental and market related problems. It also contains economic concept andtheories based on assessment of variables impacting business entity, its management andstrategy. This study evaluating how economic information help in policy formulating withinnational, international and organisational context and effect of government policies onmanagerial decisions and government policies in context of Apple Plc. Company is multinationalcompany of US and holing place in largest four tech organisations. Study also includes variouseconomic concepts such as cost analysis, supply & demand and price elasticity. TASKOverview of Company:Company is initially founded by Steve Jobs, Ronald Wayne and Steve Wozniak in year1976. Apple Inc. is famous for unique designs and sell of smartphones, computer software andproviding online tech services. Company is operating its business through headquarter inCupertino, California. It is top brand in smartphones market. Its products includes smartphonesunder brand name iPhone, iPad tablets, smartwatches, Air-pods wireless earphones, Apple TVand smart speakers. Company has reported revenue amounting approx $265 billions in year 2018worldwide. It employs approximately 124000 employees and maintaining about 520 retail stores.Company has equal popularity in almost all countries and targeting rich and super richpopulation. It can be understand easily as company is selling high price superior products and itssales is increasing year by year. Company faced criticism on its labour practices applied by itscontractors, its unethical trade and environmental practices such as anti-competitive acts.However these all circumstances fails to affect company's brand value and popularity.Company's major activities includes designing, manufacturing, developing interface andsoftware, and selling and promotions of its products across the various countries. Apple'sproducts are revolutionized depending on human behaviour and technological evolution byknowing the requirements and desires of clients and that will contribute to consumer satisfactiondepending on the presumed performance of the item that suits the expectations of the client.
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Product Range selected:As study requires selection of a specific product range so Smartphones chosen. It is mostwidely used product and in current era this is crucial for study. Smartphone users are increasingcontinuously which leads to an increase in market cap of smartphone industry. Technologicalchanges are very fast in this industry. Approx within 2 weeks a new smartphone range is beinglaunched by different smartphone companies. Apple has recently launched “Apple iPhone XSMax ”. Forstudy purpose this product is taken. Apple is top brand in smartphone market.Popularity of iPhones is equal in US, UK, European and Asian markets. Company every yearlaunching a new iPhone and other tech products. Following is chart showing smartphone marketshare in respect of different companies and number of smartphones are sold:Global Smartphone Market Share (%):2018Q12018Q22018Q32018Q42019Q1Samsung22%20%19%18%21%Apple14%11%12%17%12%Xiaomi8%9%9%6%8%
Management Economics Assignment | Apple Inc_4

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