This is a collection of hyperlinks to current news articles that deal with economic concepts (labeled) for my current and former students. The opinions and conclusions are expressly those of the authors, not necessarily mine. I have not commented on these articles because I want my students to have a chance to do so in their homework assignments. I always enjoy hearing what they have to say when they have thought through and provided evidence for their arguments.
I believe it has been proven that competition for a product can increase its sales. This K-Cup article adds to this. An example was the well advertised Mac & Cheese competition a few years back against Kraft Macaroni & Cheese vs. Velveeta Macaroni & Cheese. Sales of both products increased significantly. Great sales ploy by Kraft especially because the also own Velveeta.
So perhaps it's the advertising that goes along with fierce competition that can increase demand for a product? Good example with Kraft. Thanks, Daniel!
I believe it has been proven that competition for a product can increase its sales. This K-Cup article adds to this.
ReplyDeleteAn example was the well advertised Mac & Cheese competition a few years back against Kraft Macaroni & Cheese vs. Velveeta Macaroni & Cheese. Sales of both products increased significantly. Great sales ploy by Kraft especially because the also own Velveeta.
So perhaps it's the advertising that goes along with fierce competition that can increase demand for a product? Good example with Kraft. Thanks, Daniel!
ReplyDelete