1Professor, Centre For Post Graduate Studies, P1 Price P3 Q1 Quantity Surana College, Bengaluru, Karnataka, India. E-mail: satheeshk5282@yahoo.com
2Professor, Vivekananda Educational Institutions, Thiruchengodu, Namakkal, Tamil Nadu. E-mail: mba.ravichandran@gmail.com
3Assistant Professor, Centre for Post Graduate Studies, Surana College, Bengaluru, Karnataka, India. E-mail: sindhu.mba@suranacollege.edu.in
Online published on 30 November, 2019.
This case study discusses on Veblen effect with respect to Apple iPhone. The consumption of Apple iPhone is viewed as symbol of status & wealth and whose price is very expensive as compared to normal standards that enhances the status and wealth. Apple iPhones’ object properties includes iOS, App Store and 360 Web Browser. The iOS mobile operating system, App Store and 360 Web Browser are created and developed by Apple Inc and Digital Poke for iOS operating system respectively. The demand curve of the Apple iPhone is inelastic because of status attached to it due to high price. Customers of Apple iPhone measures the satisfaction derived not by the utility value, but by the social status and value.
Apple iPhone, Demand Curve, Value and Veblen Effect
