Factors Determining the Price of Mobile Phones in the UK Market

Seminar paper from the year 2018 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1, , language: English, abstract: The UK mobile phone market is one of the most competitive markets in the world. This sector has developed and also expanded over the years and the increasing competition has resulted into falling consumer prices of the mobile phones. The increased competition in the UK mobile phone market has underpinned decline in their prices despite the increasing demand from the mobile users (Ofcom, 2014). New investments and innovations have been witnessed in the mobile market in the UK which has resulted into new products and network services hence increasing the choice by the consumers. The consumers view on the mobile market in the UK is that the prices of these products are favorable, and the prices are competitive because of the increasing number of players in the market (Ofcom, 2014). Research in the UK market, therefore, shows that the mobile phones prices have continued to fall despite the increasing demand from the mobile phones users. This forms the basis of this research to explain the factors that determine the prices of mobile phones in the UK an also examine why the prices have continued to fall despite the increasing demand from the users in the UK.