Market research of phone cases (Iphone) and evidencing demand for this Assignment

Market research of phone cases (Iphone) and evidencing demand for this product - Assignment Example For instance, Iphones have been strong and efficient in the services they offer. This has been profoundly instrumental because customers always prefer products that are strong, durable and most importantly efficient in offering its intended services. For years, Iphones have been outstanding in their market performance as the company’s innovativeness has been its great tool (Diamantopoulos 2004). Different models of iPhones have evolved systematically with the quality being improved successively. In order to shield off stiff competition in the market the apple company has benefitted from the creativity, innovation and enterprising nature of its business model. The improvement of iPhone products has been both significant and a challenge in as far as the business environment is concerned. Some of the successive products end up finding resistance and low market reception. This is part of the business challenges but the Company must ensure that it remains relevant in the market not allowing to be overtaken by fierce competitors by improving the new product (Sinha, 2013). Despite the initial success and high market demand of iPhones in the market, challenges have crippled in as well. In the most recent past iPhone 5C model experienced an unsuccessful entry into the market. The demand of the Smartphone was significantly low, which led loss of profits and affected the product and the company’s profile in the market. This led to the reduction of its daily production with almost 50% (Sinha, 2013). Most of the iPhone 5C manufacturers admitted receiving orders to cut down daily rate of the product production. For instance, Pegatron reported instructions to cut the manufacturing of iPhone 5C by almost 75%. This resulted in the production of 80, 000 units on weekly basis from 320,000 units initially (Sinha, 2013). In general, the production of iPhone 5C reduced hugely and the company suffered huge profit and financial losses. In fact, there were