Post on 30-Dec-2015
Marketing I
Supply and Demand Supply: “amount of goods producers are
willing to make & sell” example: 48 jackets, 20 sweatshirts, 15 tote
bags
Demand: “consumers willingness & ability to buy products” example: students wanted to buy the items
above
Supply and demand determine prices and quantities of goods and services produced
EquilibriumEquilibrium: “when the amount of a product
(supply) is equal to the amount consumers want (demand)”
Supply = Demand
Theory of Supply and DemandWhen supply is HIGH and demand is LOW,
the price will be LOW
When demand is HIGH and supply is LOW, the price will be HIGH
Surplus v. ShortageSurplus: Supply is high, Demand is low, Price
is low
Shortage: Supply is low, Demand is high, Price is high
ActivityStudents are to apply their knowledge of the
Law of Supply & Demand to a hot holiday product
Create the following 8-slide PowerPoint:1. Cover Slide2. Agenda3. Select Product (include picture)4. Brand5. Marketing Mix6. Apply Law of Supply & Demand (how it affects
price)7. Shortage v. Surplus8. Conclusion
Email PPT to Ms. VanDyke (hvandyke@lcps.org)