Itunes's Misguided As My Information-Based Industry

time, share information, wider markets and allows for globalisation. “An information based industry is an industry that is information intensive. It is an industry that produces and sells information in the form of a good or a service”. This industry is rapidly growing and demand is constantly increasing. It is said that an economy with a strong information based industry is much more competitive. I have chosen iTunes as my information based industry as it is a company that creates and sells music online. ITunes was launched in April 28th 2003. At this stage iTunes just started off with music, the first thing to be launched was the MP3 player. Music has completely changed from selling in stores to selling online. Networks

Since launching in 2003 it has almost two thirds of the music sales. This is a great result for iTunes but not so great for music stores. There have been some major consequences for businesses since iTunes launched. Sales have almost halved since 2003. This is a massive drawback for businesses resulting in a lot of businesses having to close down. Online music was like a new competitor for businesses. “An industry with a physical supply chain management is an industry that has a flow of goods and services from supplier to customer. It is the use of raw materials to produce finished goods for consumption”. I have chosen to use Misguided as my industry with a physical supply chain. Misguided is a UK fashion retailer that was set up in 2008. Misguided was set up by Nitin Passi and his website is growing rapidly. It is the benefit of searching online for what you want and having the product delivered right to your doorstep. There is also a much wider range of products online, there is no limit to how much products you have online where as shops are constantly changing and rotating their products to keep on top of the latest trends. Nitin has used many strategies of making his business a $80 million dollar business. One way