Patrick:
Even as I agree with you that the virtual reality market has not fared up to the expectations of the investors till now, I do feel that the market would go big in the coming years. The price of the product being a major blockade to its market success it is expected to significantly decrease in the near future as more and more manufacturers enter the industry. I hope competition will further refine the utilities of the product apart from reducing its price. A the same time, I strongly believe that manufacturers will explore more product benefits apart from its entertainment value alone, which currently prevents customers from investing more money in buying virtual reality products. For example, incorporating educational features can help attract students. More importantly, the fact that youngsters spend a lot of time on the social media challenges virtual product marketers to attract this market segment through adding features that inspire them more than the social media. While adding features that help users connect to the social media, marketers must have in mind that virtual reality products should be able to compete with the social media popular among their potential customers, particularly the young men and women across the world.
Stracey:
While supply and demand are always dependent on each other, for market price to remain unchanged the demand for a product must be equal to that of supply. One reason why chicken price does not follow the effects of demand and supply like that of pork and beef could be that there may not be any significant change in the number of consumers using chicken that obviously has kept the supply and price of chicken steady during the period. Alternatively, the chicken market would have succeeded in maintaining their customer base through adopting appropriate promotion strategies unlike beef and pork marketers. I believe that chicken marketers are also closely observing the customer preference and the market behavior to supply the market with the exact needs from time to time so as to maintain the price. Interestingly, the performance of chicken in the market also indicates that the producers have been strictly keeping the production cost under control all these years. I also believe that manufacturers can continue to earn profits by maintaining the price of chicken even if cost of production increases by exploring the market and increasing the demand, and supplying the market appropriately. I also believe that chicken marketers continuously watch the performance of beef and pork market so as to make use of the opportunity to promote chicken to beef and pork consumers towards maintaining the price.
