Hundreds queue for today's Vancouver Apple iPad 2 launchSummary
Just several weeks ago on March 25th, the new Ipad 2 was released in Vancouver. Many people were already lined up outside Pacific Centre and by noon, hundreds of buyers were lined up hoping to get their hands on this new gadget. Apple staff was considerate enough to keep their potential customers satisfied, handing out hot coffee during the cold and rainy day. Meanwhile, inside the store, other members of the Apple staff were preparing for the launch later in the day. Even people who were only waiting in line since midnight to help reserve a spot for their friend ended up wanting to buy an Ipad for themselves! People were interviewed and judging by their response, they are very much willing to wait as long as they can to get this Ipad! People were well prepared with chairs, sleeping bags and snacks. By midday the lineup expanded down along Granville Street, consumers were also lined up at Best Buy, Future Shop, London Drugs and Simply Computing for the Ipad.
Connections
Seeing that the new Ipad 2 has such a high demand it is obvious that this launch has significantly increased the consumption in the economy. The Ipad 2 16gb 3G is released at a whopping $699+tax, assuming mainly people living in a household with a higher income would purchase it. This is due to greater accumulation of wealth which gives a greater ability for people to spend that money. The Ipad 2 is advertised to be seen as a desirable product that's better than the original Ipad, this brainwashing fact causes people to have psychological changes. People's tastes and preferences, and motives towards spending affects consumption as well. This is also definitely a factor of the introduction of a new product to convince consumers that a change in their lifestyle is required. This definitely changes the household consumption because people are choosing to spend money from savings. which results in the higher level of consumption. Other than levels of consumption, levels of investment spending is also affected by this launch of the new Ipad 2. The variables include innovation and changes in technology, due to the new and improved Ipad, companies such as Best Buy and Future Shop purchase it as well in order to improve the efficiency of their operation.
Reflection
I'm surprised to realize how much I've learned from making connections with the information given in this article and the textbook. The almost two week old release of the new Ipad 2 has made quite a significant impact on the economy. It has motivated people to spend money instead of saving it. It persuaded people into wanting it because it has more desirable functions and improvements. It has been convincing enough for people to want it because they believe it is a necessary change in their lifestyles. It has also given other companies a reason to purchase from Ipads in order to improve the efficiency of their operations. Also, in order for other companies to compete, these companies are forced to continually update their equipment and methods of operation. I never realized until now how much of an impact the launch of the Ipad 2 could have on some many things.
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