In 2018, where everyone is looking for value for money smartphones, Apple introduces iPhone Xs and Xs max starting at 1,20,000/- . Apple is considered as business phones for a specific category of population. So here APPLE follows certain economics laws and concept as follows :-
1> People face trade off :- People sacrifices Samsung and other brands to buy Apple because it gives more values to the products and customers.
2> Opportunity Cost :- In managerial economics opportunity cost concept is useful in decision involving a choice between alternatives course of action. People choose iPhone over other brands.
3> People response to incentives :- Apple provide excellent ecosystem to the customer as a result synchronization between devices are very easy . In this point of time no other company provides this ecosystem / platform for sync. It is beneficial for those how want things easy and relay on cloud system
4> Monopolistic market :- Apple always provide some more values to its products which gives more features. It makes it different from other products in this segment.
1> People face trade off :- People sacrifices Samsung and other brands to buy Apple because it gives more values to the products and customers.
2> Opportunity Cost :- In managerial economics opportunity cost concept is useful in decision involving a choice between alternatives course of action. People choose iPhone over other brands.
3> People response to incentives :- Apple provide excellent ecosystem to the customer as a result synchronization between devices are very easy . In this point of time no other company provides this ecosystem / platform for sync. It is beneficial for those how want things easy and relay on cloud system
4> Monopolistic market :- Apple always provide some more values to its products which gives more features. It makes it different from other products in this segment.
5> Law of supply :- Apple increases its supply from the beginning so that more and more customer willing to buy that product . As a result despite of having more price the sale is more.
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