Product Assessment Essay Example | Topics and Well Written Essays - 1250 words - 3

Product Assessment - Essay Example Considering the storage, it can offer a storage space of 5 times greater than the DVD’s. The disc was jointly developed by Blu Ray Disc Association (BDA) with companies that are the leading manufacturers in consumer products and computers. Blu ray uses a blue laser instead of red which is present in DVD’s and CD’s for much greater focus and precision. The concept had also been supported by Hollywood studios and planned to release their movies on blu ray discs instead of DVD’s (Taylor, Zink, Crawford, & Armbrust, 2009). The target market for Blu ray disc are the people who wants to store excessive amount of data or the market that has likes for watching movies in high definition with clear pixels. The corporate are also considered to be their target market considering different Hollywood studio who agreed to release their movies in blu ray discs. The U.S census data highlights that the total penetration of Blu ray devices in United States is 40.8 Billion. The total spending on the blu ray disc in 2012 has been $2.22 Billion (Prange, 2012). In today’s world, technology is changing at a rapid pace and so are the consumer preferences. The company develops a product on the basis of preference for consumers and their interest. However, if a consumer finds right and suitable in adopting a technology which is much cheaper than the current idea then the new technology has chances of failure. Similarly, in the same context consumers preferences are changing and cheaper versions technology is being adopted. The U.S census data reports that the market for blu ray has declined from $2.6 Billion to $2.4 Billion (Edwards, 2012). The main reason being for this change is known to be an economic downturn. The age of digital download has arrived and customers are diverted to these preferences instead of buying a blu ray disc and storing the data. Digital download is a cheaper option and does not require money