Consumer Decision On Phones

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by a company would depend on the price of the phone and how it competes with other companies in the market. Therefore, in order to effectively market a new line of telephones, the capabilities of a telephone and its price must be taken into consideration. First, a research must be done on consumer preference and what population it would be served. Empirical data must show a significant number of demand for a specific capability before the production is run (ex. whether if there are enough couch potatos in United States that desire a telephone which is integrated into a remote control for the television). Second, the price of the new product must be competitive in the market. By comparing the new line of product to its competitors, the price should be set at a level that is weighted according to its unique functions. Henceforth, it is with these above factors in consideration that a company will be able to do business more successfully.
Since this is not a perfect world, consumers ...

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