Demand and suppy SLP Essay Example | Topics and Well Written Essays - 500 words

Demand and suppy SLP - Essay Example 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). With 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). In 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