GLOBAL ECONOMIC ENVIRONMENT AND MARKETING Assignment

GLOBAL ECONOMIC ENVIRONMENT AND MARKETING - Assignment Example Cross-elasticity and self-elasticity are significant. No single corporation in the market has adequate market share to influence prices, resulting in competitive pricing and strong rivalry. The barriers to entrance are high because of regulation, the existence of patents, brand loyalty, economies of scale and high fixed costs. The individual market partakers engage in efforts to differentiate their product, some doing well than others. Apple Inc stands out in product differentiation. The company has successfully singled out its iPhone and is likely to maintain that distinction because of its all-inclusive and closed development and use. Through reinvention of mobile phones by its magical iPhone and iPad and App store, Apple Inc. has been regarded the most innovative firm that offers top expertise in the electronics market in China. The Apple Inc. Products are manufactured to allow their Chinese consumers to have a simpler life by joining various technologies. Despite the Apple’s popularity in china, it only has a small percentage in the market, accounting for only 8% (King 2012, p. 45). However, this can be ascribed to its little time in the Chinese market. Chinese customers were quickly fascinated by the technical devices like iPad; iPod and iPhone likewise to customers in other countries even though there was improved attention in china in contrast to other countries. Nevertheless, Apple Inc. Analysis of revenues shows that significant Apple Inc. Markets are in Europe and America (Zhang & Prybutok 2005, p.