Analyzing an article Assignment Example | Topics and Well Written Essays - 1000 words

Analyzing an article - Assignment ExampleHowever, why should not there be a general product for a particular range products. For example, what would happen if Apples iPhone were priced similar to Samsung beetleweed? In this case, people would argue that customers choice between the Galaxy and the iPhone is based on the target name. Now suppose we scrape off the brand names and give the two products a similar appearance. Which of the products would sell more and why? This and many other economic and marketing puzzles tower the article. Issues of brands and prices dominate the technology market. However, the issue still applies even to most basic consumer services. For instance, why atomic number 18 some hugger-mugger doctors or lawyers busier than others are, despite having the same qualification? Consequently, why are some commodities costly and yet they work a better market than cheaper ones. For example, why do people always go for an expensive lawyer whenever they have legal requirements? This and other similar questions are tackled in the article. The author argues that customers are the sole determinants of prices and they concord the market. What does being expensive really means. The issue of expensive and cheap commodities characterizes any market. Customers are grumbleing that a thing is either too expensive or it does not meet their expectations. Surprisingly a elevator car valued at $3000 and a candy valued at $2 might be reason as expensive products. It beats logic to analyze the price difference between the two products in terms of their price money. Indeed, $3000 is extremely greater than $2. Thus, it might be absurd to categorize both products as expensive products. Consequently, customers of each of the above products have a hypothetical price that they consider as intermediate or correct. However, how do sellers get access this price without going through the customer? The power to open up this mystery is the key to successful marke ting. Some like when the prices are high while others like it when the prices are at the lower extreme. Choice for either extreme depends on consumers decisions. Surprisingly customers will always complain that the prices of commodities are extremely high independent of their purchasing power (Bade, and Michael 72). Are consumers always complaining slightly prices or can we achieve the reverse situation. Indeed, it is possible to manufacture the later scenario in an ideal market. fit in to the author, successful marketers know how to reverse customers view on expensive prices. Analyzing the News In a market system, successful products always have substitute. Availability of substitute is the main factor that distinguishes a competitive or an ideal market from a monopoly. Consumers distinguish different products based on brand names or their market label. Despite the differentiation, some products are more successful than others are. Consequently, customers would deprave such(pren ominal) products at even high cost defying key economic principles. Price is the key monetary government agency of a products value. Thus, the price of a product reflects its true value in a particular market. Customers have they own definition of value that depends on the nature of a product and the subsequent economic environment. For example, people would be comfortable buying a bottle of water at $ deoxycytidine monophosphate in a hot desert. Consequently, the same customers would not be able or willing to buy the same bottle in a place where water