Economics Chapter OneLink: http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20080922/memory_cards_080922/20080922?hub=SciTech
Summary
The article I read is actually found on the CTV website which talks about how SanDisk Co., Best Buy Co., WalMart Stores Inc. and other technology companies are presenting the new music format called “slotMusic”. SlotMusic are 1-gigabyte microSD cards that are filled with new music albums in mp3 format. The article states that although albums are being sold in CDs, their popularity has been decreasing and in 2007 the amount of album CDs sold dropped almost 19%. Unlike the CDs, slotMusic works in any devices that contain a MicroSD slot such as cell phones and computers. As a result, these companies are pushing to introduce this innovative idea into the States, Europe, and possibly other countries.
Connections
The connection between the article and the concepts in chapter one is direct cost and opportunity cost. The companies that are willing to design and present slotMusic would have to deal with advertise expenses to get this latest design to the public and including all the equipments and materials needed to create it. However, the opportunity cost would be the amount of money that they could have used to do a better job in advertising album CDs. Companies would lose more sales in album CDs (as they already have been) and also possibly eliminating album CDs presence in stores if slotMusic were successful.
Reflection
There is a possibility that album CD sales will drop if slotMusic were out in the public because I think slotMusic are more useful than album CDs considering that it does not require an extra device (a CD player) to play it. Also, slotMusic seems interesting in a way because its small and handy and new cell phones and computers now have MicroSD slots that can play it. However, I’m not quite sure if it would be extremely successful because we still have mp3 players and iPods that can fit up to 8G of music. Even if slotMusic is successful in the future, a newer device may be introduced after it since technology is constantly changing and improving.
Summary
The article I read is actually found on the CTV website which talks about how SanDisk Co., Best Buy Co., WalMart Stores Inc. and other technology companies are presenting the new music format called “slotMusic”. SlotMusic are 1-gigabyte microSD cards that are filled with new music albums in mp3 format. The article states that although albums are being sold in CDs, their popularity has been decreasing and in 2007 the amount of album CDs sold dropped almost 19%. Unlike the CDs, slotMusic works in any devices that contain a MicroSD slot such as cell phones and computers. As a result, these companies are pushing to introduce this innovative idea into the States, Europe, and possibly other countries.
Connections
The connection between the article and the concepts in chapter one is direct cost and opportunity cost. The companies that are willing to design and present slotMusic would have to deal with advertise expenses to get this latest design to the public and including all the equipments and materials needed to create it. However, the opportunity cost would be the amount of money that they could have used to do a better job in advertising album CDs. Companies would lose more sales in album CDs (as they already have been) and also possibly eliminating album CDs presence in stores if slotMusic were successful.
Reflection
There is a possibility that album CD sales will drop if slotMusic were out in the public because I think slotMusic are more useful than album CDs considering that it does not require an extra device (a CD player) to play it. Also, slotMusic seems interesting in a way because its small and handy and new cell phones and computers now have MicroSD slots that can play it. However, I’m not quite sure if it would be extremely successful because we still have mp3 players and iPods that can fit up to 8G of music. Even if slotMusic is successful in the future, a newer device may be introduced after it since technology is constantly changing and improving.
3 comments:
This new "slotMusic" idea is a wonderful idea. I belive that this product would work because you might not always have your usb cord with you to connect your ipod or mp3 players to the computers you might be using. With the memory card you are able to connect it to any computer at any time. Also listening to music in your phone now is very popular. People would rather listen to their music through their phones rather than their ipod. The less you have the carry the better it is. Having to carry ipods and mp3 players along with your cell phone is sometimes too much! So with this new "slotMusic" product it would make it more convient for consumers.
Mindy
It is true that Album CDs are not worth as much as they were any more, especially since computer technology, where people can gain access of all types of information that they could possibly ask for: musics, movies, pictures, articles and much more. With just a click of the mouse, we can get to 'anywhere' from everywhere. And now with the "slotMusic", in my opinion, I think that this would just be another 'ipod-nano' for the demanding market; a MicroSD that is almost insertable through every cellphones and computers... just another materialistic thing that just as you said, may become very popular, or would just be in the hit for a few years until another introduction of a newer and innovative product. However, even if we had conversed the opportunity cost back to a direct cost for the album CDs, I don't think that it will necessary help to raise sales, just because that there is no use for people to purchase CDs anymore, when they are all in just a touch of a finger.
Christy Leung
I agree with you, I believe that the slotMusic will be an extremely useful devise compare to CD albums. This is due to many people don't carry CD players with them all the time. But if it's a slotMusic, then they could enter it to either their phones or ipods whenever they want. I believe it is going to be a very popular item when it's released. I will for sure buy one and try it out. But I do also understand that there will always be new items launching out that could be better then the ones now.
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