Oneplus's Economics Strategy To Lead The Market

INTRODUCTION:-

                                            ONEPLUS ONE has earned the title as the new king of mid-range Smartphone. The phone is cheap, but without comparing quality. it’s relatively   low priced with a high specification ratio.

OPPORTUNITY COST :-

                                  At the same price range other smartphone company providing only 4 GB ram with snapdragon 640,but at the same time Oneplus is providing 6 GB ram with snapdragon 845.So the customers are choosing Oneplus and give up other smartphone which are at the same price.

UTILITY:-

                                         The total satisfaction consumed by Oneplus is high. Because after consuming Oneplus's 1st product the customer are fully satisfied,so they are upgrading their smartphone with Oneplus's new phone.Recently within 10 mins of launching of Oneplus 6, 100 million customer bought  Oneplus 6 in all over the world.

INDIFFERENCE CURVE:-

        Now some companies provides same level of service like Oneplus. They are providing 6 GB ram with 845 snapdragon processor at the same price.So the total amount of utility consumed by Oneplus is equal to the other product's utility.Its called Indifference curve.

PERFECT COMPETITION MARKET:- 

                                               Perfect competition is theoretical market structure,where all firms sell an identical product.So Oneplus entered in the perfect competition market,where it compete with the existing market owner like APPLE &SAMSUNG.

PEOPLE RESPONDS INCENTIVE:-

                                                               Oneplus is giving extra 2000 on exchange of old smart phones.and also giving free insurance on mobile for 1 year and free jio voucher.So they are using the principle that people responds incentive.