Business Economics Paper Essay Example | Topics and Well Written Essays - 2750 words

Business Economics Paper - Essay Example It was founded on July 1, 1981 by Sim Wong Hoo. Sim Wong Hoo started off initially as a small computer repair shop, developing memory boards. Later, customized PCs were developed. The success spurred Sim Wong Hoo on and his inquisitive nature asserted itself. He found himself asking questions related to technology and the world found itself a market leader for multi media products. After decades of innovation, Creative Technology Limited is considered to be a market leader in the market for entertainment, IT and multimedia products. It offers a wide range of differentiated products including MP 3 players, pocket cameras, webcams, X-Fi audio sound cards, earphones, headphones, headsets, keyboards and multimedia speakers. According to Creative Companies (2009), Creative Technology was initially located only in Singapore. At present it has headquarters in Singapore, subsidiary in USA and branches in Europe and Asia. The advent of technology has allowed the company to operate as a virtual online store as well. Creative Technology Limited believes in creating value for all of its customers; those who are technical savvy and for those who are not. The aim is to provide satisfaction to any one who enjoys entertainment. The core values of customization and innovation are embedded in their culture and reflected in their user-friendly and well designed products with multiple features. Hence, Creative, which is their brand name, is reflected in each of their products. Determinants of Demand Demand is the desire and willingness to purchase a product. It is affected by a number of factors. According to Bamford et al. (2002), the shifts in the demand curve are caused by the financial ability to pay, attitudes towards the products, the price, availability and attractiveness of substitute products, marketing,