An important note for those who try to argue that "brand name" will help the PS3: brand is the lowest factor on the consumer-side factors of demand. For those who don't know, there are five basic factors of demand in the classic economic model (suitability, price, demographic, product type, and competition). However, consumer-side and supplier-side demand have specific factors, with very little overlap. These factors are:
Consumer-side (in order of priority):
* Suitability
* Price
* Brand
Supplier-side (in order of priority):
* Product Type
* Demographic
* Competition
* Price
In a perfectly competitive market, suitability is a non-factor for consumers, as all products are equal. However, consoles are not a perfectly competitive market, as evidenced by the fact that one console always outsells all others in any given generation of products. The product which does this best suits the needs of the market demographic at large. "At large" being the key term here, as the PS3 does not suit the needs of the demographic at large as well as the Wii does (obviously enough, given the massive discrepancy in sales).
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