Free Economics Essay Sample - The Telecommunication Sub-Industry Across The Period 2009 - 2015
Type of paper: Essay
Topic: Industry, Telecommunications, Business, Telephone, Services, Media, Mobile, Television
Paying keen attention to the North American Industry Classification System (NAICS), this paper aims at looking at the changes in the information industry and to be specific, the telecommunication sub-industry across the period 2009 – 2015 with regards to supply of the product.
Telecommunications industry has undergone massive changes in the period 2009 -2015. There has been stiff competition in the telecommunications industry due to the many players currently operating in the market. The techniques of supplying services have advanced majorly because there is demand for more speed and quality in both telephony, data and cable television. The price of resources has also reduced for the sector players. This enables them to reduce the product price for the final consumer since the production, distribution, transportation, marketing and testing costs are a bit lower compared to earlier years. Expectations of future product prices have also led to fierce price wars among the players in the sector with mobile phone companies striving to deliver the best services at the most affordable prices. Mobile phone carriers are now competing with cable television service providers by offering mobile TV services. Internet access service providers are also keen to remain in business hence they have upgraded their systems over the period to ensure they meet the client's demand that is, fast and reliable internet that sometimes acts as a substitute for satellite TV, as well as telephony.
The number of suppliers in the market has also increased over the period, nowadays there are many companies in the industry. This has led to advancement in the supply systems since each of these companies is striving to obtain and maintain a certain market share. Finally, taxes and subsidies have also played a crucial part in the change in supply trends in the telecommunications industry. Through reduced taxes and increased subsidies, companies are now fully flexible to deliver to the consumer. All the changes in this industry have been majorly beneficial to the consumer thus far.
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