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As the economy improves, the lifestyle of people also improves. The demands of the people are also getting higher in terms of quality and technology of the products. People want to experience things that they have not seen or experienced in electronic products before. Nowadays there are many newly invented or discovered things that will aid the customers in their problem in slow processing software of gadgets. For instance, there are new waves of smartphones that offer better features such as the iPhone series. This has been the story of the modern flagship battles of electronic companies, and Apple is just as competitive as ever.
There are segments that could affect the economic status of a certain product. We have six segments: demographic, socio-cultural, political/legal, technological, economic and global (Hickman 27). Demographic explains that there are changes because in selecting a kind of gadget to distribute you should consider the place, the age of the people who are living there. Next is socio-cultural segment. It poses that you also have to study the purposes or objective why people buy certain kinds of products and how do the line of preference can be drawn. Another segment is the political/legal segment: Copyright or protection against pirates of their products to avoid fake manufacture of gadgets. Next is the technological segment, which is all about the effect of the innovations to the public. Economic segment pushes that you will also need to consider the people’s capacity to purchase electronic products; in such case, socio-economic status should be richly considered. Finally, in the global segment, you should also study the attitudes and cultures of your prospective customers or your target consumers.
The one that brings success to the Apple’s industry was the advancement of their technology applied in every apple gadgets. If you can observe, Apple manufactures its own software and hardware, which makes the company unified in terms of quality and features because they can assess their products based on its own set of quality standards. In every model that they release there is something special or different from the older one. It could be the storage capacity, processor or the overall design of the gadget. New inventions attract users; therefore technological segment contributed a lot to the Apple’s continued success.
Work Cited Page
Hickman, Gill Robinson. Leading Organizations: Perspective for the New Era. Thousand
Oaks: SAGE Publications, 2009. Print.