Consumer price index

Naturally, people do not stop to think about the backgrounds of the items in their refrigerator, how they originate, or what can be learned about each of them. Most people tend to grab food out of the fridge and gobble it down without giving a second thought as to how it wound up there in the first place. We are all guilty of it; I myself cannot recall any time where I have selected something from my fridge and speculated on that item before shoveling it greedily into my face. A few nights ago,…

fifteen for the countries with the most imports into the states. The Dominican Republic and Guatemala fall in the top fifteen ranking for surpluses and China, Mexico, Vietnam, Italy, and Indonesia are in there for deficits with the United States. As a consumer, I am connected to the workers in the marketing industry because I am wearing their masterpiece. These workers are working in rough conditions and pushing themselves to create items sufficient enough for us, in the states to be able to…

the elements of price elasticity. Also, we will discuss substitute and complement goods and the differences between them. Price elasticity is a concept used in economics to describe how a change in price affects a demand or supply curve; specifically, the degree of change in reaction to a price change (Heakel, 2015). Elasticity is measured by dividing the percentage of change of quantity by the percentage of change in price (Colander, 2013). The Law of Demand says that when the price of a good…

This allows consumers to look through the items for sizes, colors, and special needs easily. It should be marked clearly with the price and sizes (R. A. Kerin, 2006). Your…

The Battle for Young Wallets Why Generation “Y” is Destined for Failure. There has been a lot of discussion regarding spending habits that haunt adolescents and young adults. While our parents and theirs before us were plagued by the need to own properties and settle down, the future Generations seem more consumed with the idea of changing the usual status quo. Over university, they are choosing college and alternate forms of education, some even forgoing continued education institutions.…

traditional stores were to decrease the prices of their products, the revenue received by the company would increase, but the profit would decrease. This was the case for Dick’s, where the profit decreased by 17% and the revenue increased by 3.7% (Germano). This shows that decreasing the price is not beneficial in bringing these companies “out of the slumps.” This would explain why the paths these companies take/took do not consist of decreasing the prices of their products, but instead they…

none of the P6 criteria and still be turned into a P6 product. Additionally, the creators of the P6 idea and logo also profit – not just the farmers or the local Co-op. While the campaign serves the interests of local and fair trade farmers, and consumers, it also serves the interests of the managers of the P6 brand. P6 is a brand that’s run out of an office. Someone manages the website, keeps the news updated, and does outreach to bring more co-ops into the program. As such, it keeps at least a…

users every year how can we afford to drop the price of gas. People are buying it, whether the price rises or falls, so why not keep it at a steady price. This all has to do with how oil firms perform in the short and long run. Also what and how much government influence has to deal with the way the price changes. Gas and oil prices play a major role in our economy, so when they rise or fall the outcomes are different and effect all markets. Consumer spending has a major effect on the way our…

There is sense of deep commitment and passion which is exhibited by the consumers. They like the product, have the passion for it and make a commitment to buy the product. THE METHODOLOGY “Brand Loyalty” is a hypothetical construct and cannot be seen or observed with the naked eye unless we use surveys or questionnaires to understand how strong or weak the consumer feels about the product. In order to measure a consumers’ Brand Loyalty towards a product we must understand the different factors…

One of the main takeaways from Professor Sasser’s lecture on customer care is the link between customer’s satisfaction and loyalty to profit. He discusses an example with MBNA, a credit card company associated with Maryland National Bank. The CEO was worried about his business because they were not growing profitably. They attracted customers, but the more they attracted, the more profit they lost. The CEO calculated the lifetime value of a customer and found that it was taking them five years…