Apple Inc.s Products and Factors of Demand

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Apple Inc.s Products and Factors of Demand

Price

Price is commonly considered one of the factors strongly affecting demand for specific products. For Apple Inc., whose goods are sold worldwide, this parameter is critical to take into account, as shown in Figure 1. As the results in India demonstrate, a decrease in price is directly related to an increase in sales, and the high cost of Apples products is a constraint. The indicators of the past years show a direct relationship between the cost and the buying interest of the target audience. Therefore, price is essential to analyze as an important demand factor.

Competition and Supply

Along with the price, competition and supply are significant factors to take into account when assessing demand. In Figure 2, Apples rivalry with other major digital market players is presented (Sung-Jin, 2021). These numbers, when compared within one year, clearly demonstrate the volatility of demand, and for Apple, the corporations numbers rose over that period. Another critical factor for the company in question is supply. Despite the lack of a wide global network, as Bhardwaj (2019) argues, in the past few years, the supply of iPhones as Apples main product has decreased in India, as shown in Figure 3. This decline directly affects demand, creating interest in the goods and stimulating active sales caused by such a deficit. Therefore, price, competition, and supply are the most important factors in assessing the demand affecting Apple Inc.