Essay Sample on Wireless Network Industry In USA

Introduction

In the modern world, most of the activities are emerging to be networked starting from conferences that are done online, online trade, online studying and other essential activities. This serves as clear indication that the wireless industry is thriving and is reliable to very many customers. Most of the customers using the wireless network industry are mostly into the Internet of Things (Wang, 2006). The industry delivering the services, is now improving the connectivity strengths over large areas as screens are now controlling most products as the interface between the item to be controlled and the user. For this to be effective, the network coverage should be super strong to bring most dreams to a reality. Most of the automobiles are now self-controlled thanks to the wireless network industry. Since the trend in technology is tremendous, most of the users range from different demographic groups as the services are becoming more reliable since the service providers are learning on how useful the industry and is becoming the backbone of the economic growth in the USA. The use of wireless network requires the user to acquire a smartphone or a smartwatch that helps him/her get full access to the services interested in. The industry is still growing and this is mostly by the fact that most billing and customer care desks are now available due to the presence of the high network speeds from the network providers. This has helped as the era of travelling to the banks and the premises of the service providers is becoming extinct. The location of the industry is dictated by the presence of high network speeds and network coverage. For instance, in location where the network signal is less, the wireless network industry performs poorly as it will take time for one to access the services or even purchase goods that he/she wants (Correia, 2001). The wireless network industry is competitive in nature to the other industries that provide the same products such the automobile sector. Nowadays, there are autonomous vehicles on the road, emergence of smart towns where by one acquires his/her personal parking spaces online instead of travelling to the town council offices to book a parking ticket.

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For any industry venturing into business, its main aims is to make profit. Thus for the industry to sell its products/services, the customers must first demand their product. Demand in this case is influenced by various factors. The purpose of the product serves as the main factor that influence demand. If for instance the industry provides the basic services such as paying bills online, then the demand for such services will be high, as many households will adopt the payment of bills rather than queuing in the banks to make payments. The economic trends in the nation also serves as a factor influencing demand. This is evident in the manner such that when the economy situation is a surplus one; there will be demand of extra luxurious commodities and services. For the developing economy, the demand of extra luxurious services/commodities will be low.

Demographic trends also affect demand of the services being offered by the network wireless industry. When most of the population ranges from 55 years of age onwards, some of these services being offered will be of lesser meaning to them thus the demand will be low (Amir, 1996). This is unlike when there is a youthful generation that has the full knowledge about the essence of the wireless network industry thus the demand of these services will be high and will be in extra use.

The cost of the product is always a critical factor when providing a service/product to a customer. This is mostly because it determines the profit to be received after the sale. When the product is new in the market for instance, its cost should first be such that it is not attracting too much profit in order to attract customers and to acquire market confidence and vast market region acquisition. When the competition is stiff, the price also should be optimized as customers tend to choose the lesser expensive product instead of the expensive one especially when the case is they provide the same type of product or service. The cost drivers also determine the cost of the product in hand. When the labor cost is high, then the cost of such a product will be high too.

The wireless network industry has numerous opportunities in the regions as many telecommunication rely mostly on manual processes. If these telecommunication companies ventured into providing theirs services to consumers through wireless network, they would pose a very good platform for service provision to consumers instead of the manual mode such as the customer care desks in offices.

When there are favorable conditions such as demographic factors, technological trends and cultural practices then the wireless networking industry would have a perfect chance to compete favorably with other industries hence thriving positively.

However, the wireless network industry is faced by many threats that may include; change of buyer preferences (Cox, 1992). When this becomes this becomes the case, there is reduced demand in the product. When the government introduces some laws that hinder the use of some industries services, there is also a reduced demand of the product as everyone wants to adhere to the legal laws. When there is the presence of substitute goods, the demand is reduced, as there is division of customers.

Conclusion

In conclusion, the wireless network industry in the USA is growing fast and the other regions at large. We should all adopt and make use of the technological advancements.

References

Amir, E., & Lev, B. (1996). Value-relevance of nonfinancial information: The wireless communications industry. Journal of accounting and economics, 22(1-3), 3-30.

Correia, L. M. (2001). Wireless flexible personalized communications. John Wiley & Sons, Inc..Cox, D. C. (1992). Wireless network access for personal communications. IEEE Communications Magazine, 30(12), 96-115.

Wang, N., Zhang, N., & Wang, M. (2006). Wireless sensors in agriculture and food industry-Recent development and future perspective. Computers and electronics in agriculture, 50(1), 1-14.