My research question to help me study the economic principle is “How do companies use incentives to persuade consumers to buy their phone products?”
The article/video/etc published in The Next Web and International Journal of Economics & Management Sciences titled “10 Strategies To get Smartphone Sales.” and “The Effect of Promoter Incentive to the Smartphone Sales in Retail Chains: A Turkish Case” demonstrates this economic principle because it shows …
First, Companies like to include price comparisons against their competitors to show off their product.
Second, Companies like to offer special promotions to increase the interest of their consumers and give them incentives to purchase their product.
Third, Phone manufacturers market to audiences that are already smartphone heavy, areas in which a lot of people buy smartphones.
In my next blog post I will research: The ways these companies try to sell their products to people in populated areas.
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| Source: Statista.com |
I found the graph very interesting. I always thought that most people have either an iPhone or a Samsung. I, personally, have a windows phone and have only met one or two other people with a windows phone. One question that I would like answered is, do phone companies target certain geographical areas in order to increase profit, or is it less structured than than?
ReplyDeleteI found it interesting how phone companies pick out certain incentives that they think will draw more customers in. This tactic can be seen as being more connected with your customers or simply being greedy, i.e. the invisible hand. I would like to know how are phone companies in an 'incentives competition" with other phone companies and does it effect gaining or retaining more customers.
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