Finally, factors affecting brand loyalty, market entry barriers and price competition will be illustrated. Hence, if competitors could create an Essay about mp3 player player, they are welcome to try and sell their products on the relatively open market.
Few MP3 players are larger than a deck of cards and most are significantly smaller. While a standard CD holds approximately MB of data or 80 minutes of recorded music, a typical MP3 player holds between 2 and 80GB of data depending on the type of device.
Furthermore, since the iPod Nano market launch, some competitors such as Rio and Olympus stopped their production and left the market even having high-quality products Skee, In addition, Apple, the market leader, has constantly made high profits and is extremely successful in the MP3 industry.
During the compression process, information outside the normal range of human hearing is discarded permanently. Furthermore, companies could examine economies of scale that should lead to constant minimisation of product costs. The new deal with Samsung allowed Apple to produce more advanced and innovative products.
Accordingly, in order for a new MP3 player to be successful in the current market, it should have a better design, be cheaper and should have an absolutely new look to the MP3 industry.
New competitors could not offer such a wide and good range of products as Apple. Technology standards and popularisation of MP3 players have already been completed. Some features available on high-end MP3 players include the ability to play videos, run applications and browse the Web.
High industry profits attract an ever-growing number of potential rivals that are trying to enter this lucrative market. Therefore, for a new entrant the first start up costs are high, but not impossible Barney, On the other hand, tangible products also have disadvantages; you have to allocate space to store a CD collection and must protect the discs to prevent damage.
However, companies could only be successful when their products have a perceived value for customers. Apple has numerous advantages owing to it is large size and historic leadership in this market. This could be exemplified by Apple that does not have any patents on the MP3 technology Barney, This could be a significant barrier for new entrants.
MP3 players have the advantage of becoming smaller with each new generation as technology improves. Overall, the static analysis of Bain suggested three types of barriers: There are numerous consumers who have an established brand loyalty with Apple products, in general, and iPod, in particular, and therefore would not switch easily to anyone other brand.
Player Size Compared to MP3 players, portable CD players suffer from a lack of portability brought on by the size of the media they play.
Advertising could potentially induce brand loyalty in customers that would otherwise buy the cheapest alternative available on the market hioveanu, In contrast, rivals lacking this technology found it difficult to compete with Apple in this segment. One of the ways to raise the profit margin is to charge a higher price to consumers.
Moreover, it will be demonstrated with an example of the fast growing MP3 player industry. Barriers to entry Considering barriers to entry to the MP3 player market, the cost of entry is comparatively low. Sound Quality MP3 compression removes information from a digital sound file to reduce its size.
Physical Media When you purchase a CD, you get a tangible product that may include items such as a booklet with lyrics and photographs. Some MP3 files purchased online may also include these items, but they can be difficult to see on the small screen of an MP3 player.
The major factors that will drive the growth of the MP3 player market over the next five years include the availability of legitimate subscription, falling price points and pay-per-download online music sites as well as increasing Flash memory capacities and enhanced functionality of MP3 players In-Stat, As a result, Apple had a considerably low price on this important element of an MP3 player.
The MP3 format has since become the de facto standard for music distribution, and portable MP3 players have been developed to allow consumers to take their music anywhere.
Moreover, iPod accessories cannot work with other MP3 players. However, the higher audio quality of CDs has prevented them from becoming obsolete. MP3 compression may discard as much as 90 percent of the data from an original recording without a significant drop in sound quality.
Taking the lead in compatibility with various contents, extension of devices related to product design and MP3 players based on high-tech function, miniaturisation and mass storage are the main factors dominating the market. Additional Features Many MP3 players have the ability to perform other tasks in addition to playing music.The Mp3 player is one of the most popular assignments among students' documents.
If you are stuck with writing or missing ideas, scroll down and find inspiration in the best samples. Mp3 player is quite a rare and popular topic for writing an essay, but it certainly is in our database. ESSAY SAMPLE ON MP3 player market TOPICS SPECIFICALLY FOR YOU Order now The total annual market value of portable music players is.
Part 1 of the essay deals with the monopolistic competitiveness of the Mp3 player market, where we will analyse the characteristics of the market and determine to what extent it is monopolistically competitive.
[tags: MP3 Player, Persuasive Essay ] Better Essays words | ( pages) | Preview. Ipod Vs. Zune - The year wasa year that most Americans will remember as the year the changed our lives forever. It was the year that the World Trade Center was attacked by a terrorists group out of the Middle East called Al Queda.
Mp3 Players essaysAs of late, there has been a new force arising in the music industry, this being Mp3. There has been an explosion of interest in Mp3 primarily thanks to the internet. People can easily download nearly any song they want for the price of a phone call.
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