Demand and suppy SLP - Essay Example

Demand and Supply SLP Goods or Services Produce by Apple Apple Incorporation is fundamentally regarded as one of the leading multinational companies which designs, produces as well as sells unique electronic products. The different goods or services that have been viewed to be produced by Apple include iPhone, a mobile device, iPad; a series of tablets, iPod, a digital music player and Mac, a series of desktop computers as well as notebooks among others. In addition, Apple also provides certain other electronic database services like iTunes Store which allows the users to download music and other media files.

Other facilities like ‘Mac App Store’, ‘App StoreSM’ and ‘iBookstoreSM’ among others are also produced by Apple (Apple Inc., 2013).2. Factors that Would Cause a Change in Demand for Good/ServiceThe significant factors that would cause a change in the demand of the goods or services have been portrayed hereunder. Price: It is considered to be one of the imperative factors which may change the demand of a particular product or service. It can be affirmed that an increase in the price of the products may often lead the customers to purchase substitute products resulting in creating variation in demand at large.

Supply: The availability of a product also has a direct influence on the demand of the products. It is often viewed that low supply or higher supply in products to the market may lead in change in demand. Therefore, supply should be made on the basis of the requirement.Competitiveness: It is considered to be the other factor that may lead to alteration in demand of the goods and services by a certain degree. With the increasing competition in the business market, demand of the goods or the services can be viewed to be changed substantially (Stonebraker, 2013).3. Examples of Changes in SupplyWith the growing competition in the business market, it can be viewed that several organizations are coming up with inventing new products that prove to be more advanced and user friendly as compared to others.

For example, Samsung, an international producer of electronic products is currently giving tough competition to Apple through offering quality products similar to Apple (Sherr & Lessin, 2013).4. Effect of TechnologyIn order to determine about how the business market changed for Apple’s particular good or service in the preceding few years, it can be affirmed that the development of pioneering technologies has not only resulted in advancing the existing industry, but also provided greater opportunities to new and upcoming industries.

It can be apparently observed that Apple has grown into one of the major manufacturers of mobile devices in recent times. The adoption as well as the employment of pioneering technologies in manufacturing new products eventually helped Apple to attract its customers by a greater level. For instance, the updates on the operating systems and the models of Apple iPhone have resulted in increasing the sale of products of Apple at large. In this regard, it can be affirmed that Apple is facing tough competition from several giant companies like Samsung and Sony among others as they are competitively performing within the respective industry through utilizing advanced technologies in their respective operational functions (Nasdaq, 2013).

ReferencesApple Inc. (2013). Store. Retrieved from http://www.apple.com/Nasdaq. (2013). Is the Apple Inc. and Samsung slump good news for competitors? Retrieved from http://www.nasdaq.com/article/is-the-apple-inc-and-samsung-slump-good-news-for-competitors-cm256408Stonebraker, R. J. (2013). Demand and supply: an overview. Retrieved from http://faculty.winthrop.edu/stonebrakerr/book/demand_and_supply.htmSherr, I., & Lessin, J. E. (2013). Apple, on defense, slams Samsung. Retrieved from http://online.wsj.com/article/SB10001424127887324077704578358760931327672.html