John F Kennedy University Apple Inc iPhone Affecting Factors Discussion You’ve been asked by a publicly traded company of your choice to research one produ

John F Kennedy University Apple Inc iPhone Affecting Factors Discussion You’ve been asked by a publicly traded company of your choice to research one product from its
product line and provide it with a full assessment of the microeconomic forces affecting the product.
When providing the company with your final report, you will include the following items in the order
listed below:Attached is the full instructions Course Project
Microeconomics Project
COURSE OBJECTIVES
Upon successful completion of this course, the student will be able to:
1.
2.
3.
4.
5.
Define microeconomic terms and concepts
Analyze the underlying factors of market supply and demand
Evaluate consumer decision making and behavior
Analyze how market structures impact a firm’s economic decisions
Explain the motivations and impacts of government policy in a marketplace
BACKGROUND INFORMATION
Microeconomics has a direct impact on how business owners run their company. By applying concepts,
calculations, and theories from microeconomics, business owners are able to accurately price their
services, compete in different marketplaces or market structures, and appeal to their customer base.
Having a strong comprehension of market structure and supply and demand forces is essential to
leading a business. To that end, in this project you will demonstrate your ability to analyze a company
from a microeconomic perspective, rather than a consumer perspective.
PROJECT INSTRUCTIONS
You’ve been asked by a publicly traded company of your choice to research one product from its
product line and provide it with a full assessment of the microeconomic forces affecting the product.
When providing the company with your final report, you will include the following items in the order
listed below:
1. Product Evaluation
Complete the template included with the project instructions. The template prompts you to find and
explain essential aspects of the product from a microeconomic perspective such as the product’s
elasticity, determinants of demand, and market structure. You are required to provide a basic answer to
each question in the template, with a detailed explanation of your answers that is comprehensive and
supported with research. When you have filled out the template completely it should be between 2 to 3
pages.
2. Recommendations
Once you’ve completed the template, you’ll present three business recommendations to the company.
Your recommendations should be based on and supported with the information in the template. Should
the company change the product’s price? Are there factors affecting the demand of the product? Could
© 2014. Any unauthorized reproduction or distribution of this material is prohibited without express
written permission. Students are expected to maintain the integrity of the assignment by refraining from
reproducing or posting the assignment or their completed work where it can be viewed by current or
future students.
Course Project
Microeconomics Project
demand be manipulated by changing some aspect of the product? Should the marketing angle be
adjusted? These are all potential questions you could consider in making your recommendations, but
you are not limited to these questions either. The most important thing is to support your
recommendations with the research presented in the template. You may also consider doing additional
research into other companies with a similar product to inform your recommendations. Your
recommendations should be written in paragraph form and be 4 to 5 pages.
3. Works Cited Page
At the end of the project, include an APA Works Cited page documenting every resource you used in
compiling the information in the template and making your recommendations. Even if you do not use
direct quotes from the resource, if it informed any part of your project, you must cite it in the Works
Cited page. A strong report will cite at least four resources.
Before You Begin
Choose the company you will research. To choose a company, you might search the SEC website
https://www.sec.gov/edgar/searchedgar/companysearch.html. When choosing a company, consider
choosing one that you might like to work for in the future or one that provides a product or service
you’d be interested in introducing to the market place if you owned your own business.
Once you’ve found a company that you’d like to use, visit its website and make sure it provides enough
information to complete the project. You may want to review information the company provides to its
investors like financial statements, mission statement, or vision statement, as well as information
presented to consumers like marketing campaigns. All of this should be found on the company’s
website. Keep in mind that you will also likely do additional research beyond the company’s website.
You may need to find articles from news organizations about the company or check out some of the
company’s competitors to get a full picture of the company and its product.
© 2014. Any unauthorized reproduction or distribution of this material is prohibited without express
written permission. Students are expected to maintain the integrity of the assignment by refraining from
reproducing or posting the assignment or their completed work where it can be viewed by current or
future students.
Course Project
Microeconomics Project
PRODUCT EVALUATION TEMPLATE
Use this template to complete the product evaluation section of the project.
1.
Basic description of the company and the product. If the company sells multiple
products, explain why you decided to focus the report on your chosen product.
Company
Product
2.
Discuss three determinants of demand for the product. How do you know these
determinants affect the demand for the product?
Determinants
of Demand
3.
Using the basic definition of elasticity, make a determination of whether or not the
demand for the product is elastic or inelastic. How do you know? Use the information
from question two to complete the elasticity calculations.
Price
Elasticity
Explanation
4.
In which of the four market structures does this company operate? Justify your answer
with a detailed description of the characteristics that qualify the company for the
structure you have chosen.
Market
Structure
© 2014. Any unauthorized reproduction or distribution of this material is prohibited without express
written permission. Students are expected to maintain the integrity of the assignment by refraining from
reproducing or posting the assignment or their completed work where it can be viewed by current or
future students.
Course Project
Microeconomics Project
Justification
5.
How does this company utilize advertising to differentiate its product?
Advertising
6.
How has this company achieved success within its market structure? If it hasn’t
achieved success, explain why it is not succeeding within its market structure.
Success
PROJECT SUBMISSION
1. A title page is not required for project submissions. Because evaluators do not see student names
when reviewing student work, it is important that students not include any personal identifiers in
their project submissions.
2. If your project requires a video, you should post the video to a free video hosting site
like www.youtube.com, www.photobucket.com, or another free web hosting site. The following
website maintains a list of video hosting sites: http://www.videohostings.com. In the written
materials that you submit as part of the assignment, you should include the title of the video and a
link for the evaluator to use to grade your submission. Please make sure that the privacy settings on
your video are set to allow third parties to view it.
3. When you are ready, click on the Upload Files button in the Project tab of your course to submit
your assignment. Your project should be graded within 7 days. Please contact your instructor if this
is not the case.
4. Your assignment will not be returned to you, so keep a copy for your files.
© 2014. Any unauthorized reproduction or distribution of this material is prohibited without express
written permission. Students are expected to maintain the integrity of the assignment by refraining from
reproducing or posting the assignment or their completed work where it can be viewed by current or
future students.

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