Essay About Digital Music Player Industry And Biggest Determinant Of Success

Essay Preview: Dmpi
Report this essay
The biggest determinant of success in the digital music player industry is differentiation. Each firm seems to have carved its own niche in the industry which has enhanced its competitiveness. One of the biggest success factors as it pertains to the digital music player industry is visual appeal. A vast majority of digital music player consumers are teenagers and young adults. This demographic is very sensitive to visual appeal. Because of the iPods visual tastefulness it has been able to not only penetrate the market, but also define it. Another key success factor is compatibility. Differentiation is not only pertinent in the digital music player industry but also in the computer industry as a whole. This leads to a variety of different computer systems across the households of America. Participants in the digital music player industry must be able to make a versatile product which can functions on the various computer systems in American households. For a competitor to be successful it must first determine if the manufacturing of digital music players is to be their core competency. With Apple having such a huge existing stake in the digital music player industry firms cannot afford to exhaust their funds in other areas of their business and still be competitive. Competitors must also pay close attention to market trends. Teenagers and young adults have tendencies to be very trendy. Apple has taken advantage of this trendiness and has designed a very fashionable product.