Group Media Assignment Essay Example | Topics and Well Written Essays - 1000 words

Group Media Assignment - Essay Example As a result, the oil and gasoline prices have plunged down significantly. The focus of the world has been on the United States since it is providing half of the total reserves that are to be released and the US government too has been proactive in justifying its decision; proclaiming that the move was not based on any political motives. Though this decision has faced a great deal of criticism from all corners, the US believes that the release would help in lessening the gap between demand and supply of oil. The article is very appositely related to the concepts of Demand and Supply. Before the political explosion in Libya, the supply and demand of crude oil were relatively stable and a reasonable equilibrium existed between price and quantity, but as soon as the oil production in Libya cut down, the supply fell tremendously, whereas the demand remained almost unchanged. This led to a higher equilibrium price and lower quantity. Now, with oil being released by US and its allies, the s upply would rise to counter the demand. The current decline in oil prices is its confirmation. The reduction in the supply of crude oil from Libya can also be understood in terms of the effects of one of the Supply determinants, namely Number of Suppliers. Since the number of crude oil suppliers in the world are limited, so when Libya, which is one of the major suppliers, departed from the scene, the supply automatically plummeted. Moreover, the demand remained unchanged due to an important Demand determinant, namely Price of Related of Goods. Since, crude oil has numerous complements whereas nearly no substitutes its demand never fell. (400 words) China Investigates Pricing by 2 Broadband Companies The article ‘China Investigates Pricing by 2 Broadband Companies’ by Barboza (2011) published in the New York Times reports about the monopolistic behavior of two of the largest government owned telecommunication firms, China Telecom and China Unicom. With regular grievances from customers that the two companies overcharge them and deliver comparatively low speeds for Broadband Internet, the National Development and Reform Commission has decided to examine whether the companies have violated the Antimonopoly Law. Analysts believe that this enquiry has come about mainly due to consumer pressure because in China, the state has always supported oligopolies with little contest and huge profits. Li Qing who works as the deputy director of the bureau of price monitoring and antimonopolization at the National Development and Reform Commission reported the fact that combined revenues of Telecom and Unicom were $10 billion in 2010 and greater than 66% of the market share belonged to the two giants. Zhang Bin, a telecommunication expert provides a different view, saying that the government did try to create competition in the industry among a few major firms; however, the outcome was not as expected and the oligopoly continues to thrive. The article pertinently relates to the concept of oligopoly. Since there are only two companies, Telecom and Unicom, involved in the oligopoly, hence, it can also be called a duopoly. These two giant telecommunication companies satisfy all the characteristics of an

The Effect of Celebrity (Athlete) Endorsements in Sportswear Marketing Literature review

The Effect of Celebrity (Athlete) Endorsements in Sportswear Marketing on the Consumer's perception of the Product and Overall Purchasing Decision - Literature review Example Celebrity endorsement Several athletes have gained status through achievements and created good image for themselves in sports industry. This has made them be sought for purpose of brand image marketing and general selling of products. Athletes who are celebrities enjoy recognition from the public and hence are at a good position to market consumer goods by appearing in brand promotion tools. Therefore; image is enough to cause a great and easy influence to targeted consumers (Kahle & Homer, 1985, pp.954-961). Celebrity endorsement is used in marketing and requires perfect blending of the strategy when used as a form of advertisement. For instance, Nike has put in place all possible measures in promoting its brand to motivate and influence consumers into desiring and making purchases (Damian & Admap, 2010, pp.42-43). Assimilation of superstars in its advertisement campaigns ensures that they maintain a high competitive advantage in sportswear industry since other firms in the industr y are fighting for the same consumers. Special considerations are placed on attributes that are possessed by celebrities (Daneshvary & Schwer, 2000, pp.203-213). Different people have different cultural background which at all times drive them into making decisions. The decisions are made on the kind of norms beliefs and people’s way of life. Therefore; it is important for the selected endorser to have vast qualities which are consistent and in line with consumer’s cultural expectations (Ohanian, 1991, pp.46-53). Practices done by the athlete should not provide a negative influence in that the products get to be despised due to the unethical habits he displays (Walker, et al., 1992, pp.69-76). Sportswear Company puts special emphasis on... As the report stresses that several athletes have gained status through achievements and created good image for themselves in sports industry. This has made them be sought for purpose of brand image marketing and general selling of products. Athletes who are celebrities enjoy recognition from the public and hence are at a good position to market consumer goods by appearing in brand promotion tools. Image is enough to cause a great and easy influence to targeted consumers. This paper declares that celebrity endorsement is used in marketing and requires perfect blending of the strategy when used as a form of advertisement. For instance, Nike has put in place all possible measures in promoting its brand to motivate and influence consumers into desiring and making purchases. Assimilation of superstars in its advertisement campaigns ensures that they maintain a high competitive advantage in sportswear industry since other firms in the industry are fighting for the same consumers. Special considerations are placed on attributes that are possessed by celebrities. Different people have different cultural background which at all times drive them into making decisions. The decisions are made on the kind of norms beliefs and people’s way of life. Sportswear Company puts special emphasis on characteristics which celebrity possesses before selecting him to be used in brand endorsement. Brands to be endorsed should fall within the area of expertise of celebr ity so that one does not give contradicting messages to consumers which is opposite with how they are perceived to be.