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Product Assessment - Essay Example
Pages 5 (1255 words)
Product assessment Table of Contents 1.0Introduction 3 2.0Compact Cassettes 3 3.0Recommendations 6 4.0Conclusion 9 References 10 1.0 Introduction The world of business today has been characterized by a lot of dynamism. This phenomenon has seen several changes in the market place where some products have consistently lost market due to their decreased value…
A product could therefore be rendered obsolete due to its inability to meet the technical, functional or other aspects whereas other products in the same line of operation may be consistently meeting these conditions. This paper will assess this idea with relation to the market of compact cassettes in the US. 2.0 Compact Cassettes Commonly known as cassettes with some even calling them audio cassettes, they use a format of recording where the utilization of magnetic tapes. The sales for this product has constantly been going doing in the US market as very few people are becoming more and more modern. The target market for audio cassettes has always been the young generation who spend most of their life time in the rural areas. According to the demographic data of the US released in April 2013, the total population is slightly above 315million people. Out of this populace, about 82% are inhabitants of the cities leaving other people approximating about eighteen percent in the rural areas. These therefore are the ones that are targeted by the compact cassettes due to the fact that the technology in the rural areas has not been escalated to higher levels as seen in the urban areas. ...
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