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

Management Information and Communication System Essay

Management Information and Communication System - Essay Example Because of this capability, the buying and selling of goods and services are expedited and streamlined. Producers and consumers could now directly transact with each other, making it possible to eliminate middlemen, in the process. This is called e-commerce or e-business and it could take the form of several models. The businesses that operates an internet business model primarily to establish and maintain relationships with other businesses is called B2B business model. Here, the emphasis is for the Internet to facilitate transactions between business organisations. For instance, there is the case of Dell, who manufacture computers according to specifications provided other business organisations. Through the Internet, sales transactions between the company and its corporate clients take place, beginning with the placement of order details, the manufacture according to the specifications and the delivery of goods. Pride, Hughes and Kapoor (2011, p.484) explained that in this B2B pro cess, Dell reduces storage and carrying costs and avoids unsold inventory while consumers who directly transact with them eliminate costs associated with wholesalers and retailers. This latter aspect in the model receives more emphasis on the other business model called B2C or business to consumer model. Business organisations such as Amazon.com and Landsend.com are examples of companies using the B2C model. They primarily cater to individual consumers. In addition to product and service offering provided 24 hours every day and 7 days a week, B2C firms often attempt to build long-term relationships with their consumers (Pride, Hughes and Kapoor, p. 484). This is the reason why a core element in the online strategies of these organisations is customer services and extensive analysis of consumer data. The above models demonstrate how the Internet can provide innovations. The transactions that transpire over the web are electronically documented, which makes it easily organized and acc essed for consumer analysis, market research among other initiatives to determine consumer behavior and needs. These data inform business organisations to create new and effective products that can be successfully marketed and sold to the market. The information gathered over the web could help address emergent consumers needs and requirements as well as solve problems and challenges. For example, back in 1990s, Wal-Mart introduced its Retail Link system, an integrated and store-shelf data made more powerful by the Internet in automatically triggering manufacturing orders to its suppliers when stocks were low (Wailgum, 2007, p.50). Since then, Wal-Mart was able to introduce pioneering systems in supply-chain management such as the evolution of its revolutionary point of sale system and the communication of information therein. The above variables are just some of the many instances wherein Internet contributes to the competitive advantage of a business organisation. The fact is that this technological breakthrough is a fundamental component in the manner by which it can create consumer value. Because of this platform, the organisation can respond immediately to problems and challenges in the trading process. In addition, the Internet is an