Dec 14, 2017 in Economics

Current Market Condition

At the moment, computerized glasses are the wearable computing technology, which is likely to mark the beginning of the end of smartphones.  The United States military are already using the wearable computers for satellite navigation and communication tasks.  The technology is yet to reach business or computer users, thus it will very soon. Google is likely to find a market for its accessories in the fashion industry, with beauty, comfort, and style being critical factors in the latest technology.

The sun glasses market, considering  the abundance of potential applications,  is poised to generate millions in revenue. However, consumer awareness of potential value and technology capabilities is limited to gaming and marketing efforts.  Though they are each taking a slightly different approach to the technology, Vizux and Microvision are among the best producers of the latest technology of eyeglass lenses.  The market is highly concentrated and does not include manufacturing, mail-order and online retailing or sales.  The two companies are also working on the augmented reality glasses, and they are a threat to Google.  According to Leake, for the company to have a considerable market share, it must set prices, which will enable it to penetrate the already crowding market (Leake, 2002).

Market prices are arrived at through the interaction of supply and demand of goods. The price of the sunglasses will be dependent on the characteristics of the market’s fundamental components. These components represent the willingness of consumers, as well as producers, to engage in buying and selling. Market clearing price or equilibrium price, as commonly referred to, will prevail when the supply of glasses to the market equals their demand.  Determination of the price of the commodity will equally depend on a truly balance of the two market components. There are tendencies of prices to return to equilibrium unless some characteristic of market components are altered, which is during a shift in either demand or supply (Leake, 2002).

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