A Study on the Supply and Demand for Hatchimals

A Study on the Supply and Demand for Hatchimals Supply and Demand: The Case for Hatchimals â€Å"Supply and demand† are two of the most well-known words in the subject of economics. Simply put, â€Å"supply† is the amount of something that is available, or can be made available, to consumers. â€Å"Demand† is how much consumers want or need a product. When there is more supply than demand, prices drop to get consumers to purchase the excess supply. When there is more demand for something than there is supply available, prices increase. There are two reasons for this – one, there could be a shortage of the product, and the retailer will likely need to pay a lot to re-stock it; and/or two, the retailer can simply increase their profit margins by increasing the price, as people are willing to pay for it. On the flip side, if the price of the product increases too much, demand will decrease, which will once again put the supply and demand at an equilibrium (Rittenberg Tregarthen, 2009). A popular time of year where we often see supply and demand come into play is the holiday season, starting with Black Friday and continuing all the way through after-Christmas gift returns and exchanges until approximately New Year’s Eve. Every year, there seems to be some new â€Å"must have† item. Often, it’s a toy. Kids learn about it at school or from television, they talk about it with their friends, and then they pressure their parents into getting it for them. (Sometimes, the parents can be just as guilty as the kids when it comes to consumerism, however – a parent might decide that their child must keep up with the Joneses, and have the latest and greatest toy or electronic device.) This sends the parents into a tizzy trying to track down the item in time for the holidays, while thousands – if not millions – of other parents around the country are doing the same thing. Consequently, the demand for this product becomes very high, and as stores begin to sell out frequently, the supply is very low. We saw an example of this recently, in December of 2016, when the phenomenon of â€Å"Hatchimals† began to make its’ way across North America – and even some other parts of the world! â€Å"Hatchimals† are furry, robotic, interactive animals that hatch from an egg that the owner must rub to facilitate the hatching process. Additionally, the creatures continue to â€Å"grow up† and increase in size as time passes. These are truly revolutionary in the world of children’s toys, and as such they come with quite a revolutionary price tag at approximately $60 each! That didn’t stop many parents from hunting this toy down and snatching it up – but many opportunists began finding and buying Hatchimals in bulk, and turning around to sell them on sites such as eBay for triple the price. Elasticity began to come into play here, as many parents were not willing to pay the inflated prices for the toy, and consequently stopped searching for them altogether. The after-market demand from sites like eBay and Amazon decreased greatly as a result; However, the demand to buy the toy at retail-value from stores like Target and Walmart remained on t he rise (Peachman, 2016). Spin Master, the creator of the Hatchimal toy, claimed that they knew the toy would be popular – especially around the holidays. They produced extra Hatchimals to meet this expected demand. However, they stated that they didn’t expect the response to be so overwhelming, and consequently, they struggled to keep up with consumer demand. Business cost increased for Spin Master, as they had to use airfreight to rush deliver the remaining Hatchimals from China so that they could be distributed to retail stores before the Christmas holiday. While part of the reason for the increased demand was sensationalism, there was another issue: the toy was appealing to a demographic larger than Spin Master anticipated. They had assumed the toy would appeal to children in the 5-10 year-old range, but once Hatchimals hit the market, the appeal stretched from children 3-12 years old (Peachman, 2016). The demand and price point of these toys did not seem to deter most parents from at least trying to obtain one for their child, however. This is where consumer choice and opportunity cost came into play. Some parents chose to forgo the hassle of driving hundreds of miles collectively, checking all of the stores within a certain radius, in exchange for paying three times the price on a second-hand retailer website, such as eBay. Other parents refused to pay that high of a price point in exchange for continuing to fight for the toy at big-box stores, and the article I chose even talks about a group of parents standing outside of the Target store entrance for several hours in the 20 degree cold weather in order to obtain one on delivery day. Some parents took a chance and entered raffles for the Hatchimals on Facebook by pitching in $10 with approximately a dozen other parents. Most were unsuccessful (Peachman, 2016). Fast forward to Christmas season, 2017: Hatchimals were a word barely uttered, and now, most children approaching five or six years of age would likely only have a vague idea of what I was talking about if I asked them if they like Hatchimals. The craze has worn off, and the supply of Hatchimals seems to have reached an equilibrium with the price point – most are retailing for between $45 and $50 at Target, Walmart and online. By the time the holiday season rolls around again this year, this entire process will repeat with a new â€Å"must have† item.

Louis V. Gerstner Jr Research Paper Example | Topics and Well Written Essays - 1000 words

Louis V. Gerstner Jr - Research Paper Example Question is: Is leadership is different from management? Since the answer is yes, was Gerstner an effective leader? In his book â€Å" Elephants Can’t Dance â€Å", Gerstner during his first day at IBM stated the following â€Å" I’d like to say to all of you is that the last thing IBM needs right now is a vision†¦what IBM needs right now is a series of very tough-minded, market driven, highly effective strategies for each of its businesses† (Gerstner, 2002, p.68). After his speech, he began putting his hands on the dirty job which included letting go of no less than thousands of employees. He was serious about the business of keeping IBM afloat and popularity of his decisions was the least of his concerns. IBM learned a painful lesson in management and leadership from Gertsner but it was able to go back to its feet and survive tougher circumstances like the recession today. A study published in the journal Industrial Management identified practical qualities of effective leaders. Gerstner has at least two practical qualities that made him an effective leader, namely: â€Å"lead by example and read situations and people well â€Å"( qtd. from Enterprenuer.com). Gerstner employed these three practical qualities when he read IBM’s situation clearly because he knew what has to be done despite the surmounting odds way back then. This is not definitely pure luck as this quality was honed by years of experience at a previous company – American Express. It is possible that good instincts and lessons learned from mistakes developed Gertner’s keen observation of situations and people in a business environment. When he was hired as consultant for the fledgling Sony, Gerstner again read the situation as he said†   "The cultural issues, as I found at IBM, are the most fundamental, the most difficult."( Gunther, cnnmoney ,2006) In shor t, he mentored Stringer through

Analyse the strengths and weaknesses of using faith as a basis for Essay

Analyse the strengths and weaknesses of using faith as a basis for knowledge in religion and in one area of knowledge from the ToK diagram - Essay Example Such beliefs have been challenged by logical positivism and upheld by fideism (Moser, 2002, p.128). The truth and validity of such beliefs therefore depends on the strength of the argument whether for or against and evidence presented therein. Individual motives, attitudes and preferences have had significant impacts on both faith and religion. It is important to note that there exist different religions in the world that are based on the different understanding of faith across these religions. Faith in world religions is therefore a critical issue to consider in assessing and evaluating the strengths and weaknesses of using faith as a basis for knowledge in religion (Steup, 2001, p.47). Faith is defined as a conclusive belief that is not necessarily backed up by adequate evidence (Conee, 2004, p. 133). Provision of efficient evidence to a given scenario or phenomenon constitutes an explaining reason, and therefore faith is ruled out at that instance. Inadequate reason is the principle defining factor of faith. The strengths of faith in constituting knowledge in religion are discussed below: Faith is defined by individual preferences and attitudes, thereby building a specific religion in that process. Faith as aforementioned is not backed up by evidence but it is fundamentally a determinant of the many religions in the world. In the view of using faith as a basis for knowledge, decisions can be made on what constitutes knowledge in the context of faith. Since faith is already a conclusive belief, proof of faith is not a requirement in defining the resultant knowledge. Faith makes truth assertions without prior proof. In fact there are closely related sources of knowledge like mathematics and theology that makes similar assertions backed up by no proof. Reliance on leaps of faith therefore provides a strong basis for knowledge especially in religion, because religion is directly linked to faith

Desmond Morris reaction Essay Example | Topics and Well Written Essays - 500 words

Desmond Morris reaction - Essay Example The territorial space was most interesting to me because I have noticed that people make a fairly wide combination of affiliations depending upon the circumstances. For instance, not everyone in my group of flats has the same political affiliations, but we are all neighbors and form a solid group whenever anything unfamiliar enters the neighborhood. At the same time that we identify ourselves as residents at this place, we also identify ourselves as students at the same school, workers at the same place, ‘workers’ or ‘students’, members of particular political parties and members of different and usually much smaller social groups and clubs. When our group of flats gets together for community events, we present a solid group to the outside, but inside, we are organized and divided according to some of these other affiliations. While I had always assumed this affiliation process was a natural process of sorting according to individual personality types, I had n’t considered how we established these associations so quickly within the group setting. Morris’ explanation into the various visual clues we provide in our daily interactions as he came down to the familial level began to make this clear. For example, I suddenly realized that no matter which door in the complex I come to, I can usually tell which resident lives there by the way they have customized their entrance area, which is otherwise identical to everyone else’s entrance area.

Technology In The Travel And Tourism Industry

Technology In The Travel And Tourism Industry This project is based on the description of the analysis importance of delivering quality services in the hospitality industry, what is community base tourism, the pros and cons of community base tourism, alternative type of tourism that can be used to diversify the Jamaica tourism product sand the impact of technology in the development of the tourism industry. Important of delivering quality service in the hospitality industry According to (unknown, 2012) in the hospitality industry, it is absolutely vital that companies stay on top of consumer demand in an attempt to maintain their competitive advantage. In the current technologically driven business industry, it has become increasingly important for businesses to utilize every bit of information and data collected from current and potential customers when examining ways of remaining competitive in the hospitality industry. Pertaining to (William et` al, 1999) delivering quality service in the hospitality industry can be a major challenge facing hospitality managers in the opening years of the next millennium. It will be an essential condition for success in the emerging, keenly competitive, global hospitality markets. While the future importance of delivering quality hospitality service is easy to discern and to agree on, doing so presents some difficult and intriguing management issues. Since the delivery of hospitality service always involves people, these issues center on the management of people, and in particular on the interactions between guests and staff, interactions that are called service encounters. In the eyes of our guests, our hospitality businesses will succeed or fail depending on the cumulative impact of the service encounters in which they have participated. Hospitality industry would include hotels, restaurant and other related tourism organizations. This means that the tourists have to encounter with staffs, therefore the industries have to have good customer representative that can communicate with their guest and help them resolve their issues. There are three elements in the hospitality which motels. Includes restaurant that provide beverages and food entertainment by the theatre and accommodation provide by the industrial service. In the service delivery in the hospitality industry and service delivery in other businesses there are little are no differences because they both have good customer service which is very important in both industries, they both provide quality service to increase their revenue and to ensure that they satisfy their customer needs and want in the industry. Community based tourism According to (oikos, 2009) Community based tourism is tourism in which local residents (often rural, poor and economically marginalized) invite tourists to visit their communities with the provision of overnight accommodation. Community based tourism enables tourists to discover local habitats, wildlife, and celebrates and Respects traditional cultures, rituals and wisdom. The community will be aware of the commercial and social value placed on their natural and cultural heritage through tourism, and this will foster community based conservation of these resources. Community-based tourism affords travelers with rare opportunities to experience local communities first hand. Its distinctive in that it provides an alternative to development thats not sustainable, giving rural and poor communities an additional source of income. In supporting community-based tourism, you can immerse yourself in the day-to-day lives of local and indigenous people while helping them to preserve their environment and cultural heritage. The residents earn income as land managers, entrepreneurs, service and produce providers, and employees. At least part of the tourist income is set aside for projects which provide benefits to the community as a whole. Tourists will spend time near areas that are rich in culture and biodiversity, and, at the same time, will get to know the locals at the grassroots level. Many successful experiences in development countries prove that tourism can become a leading sector for the people who conserve natural resources and live on it. Local people of these countries jointly cooperate in Community Based Tourism and this gives not only economic benefits for them but also becomes an example of community involved decision making. A community by definition implies individuals with some kind of collective responsibility, and the ability to make decisions by representative bodies. Localsà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ participation, traditional culture, cross-cultural issues and raise of local income are basic principles of tourism and it is fundamental to get more in depth for development countries where tourism is dominantly operate by great foreign companies. Usually familiesà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢ interviews make obvious that locals are interested to take part in tourism activities but they donà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢t know how. Often the creation of Community Based Tourism is the best solution for local people or at least a great help for them for example in these countries where the main income is from livestock and the desertification, the spread of unproductive land deprived of vegetation, is one of the main concerns. Community Based Tourism is the jointly planned and managed tourism activities of local group: this new business never can be the main or only income source of the communities and cooperatives but can be additional income possibility Issues like generating additional incomes for locals and reducing impacts on environment are included in the government policy about tourism, but there has been little implementation and no integrated policy at the national level. The pros and cons of community base tourism Base on the information of (mozer, 1995-2012) Advantage -depending upon implementation some of these can turn into disadvantages. Employment- (1 emp/1000 tourist) labor intensive, few administrative positions, little upward mobility. Infrastructure development -roads, water, electricity, telecom and cybercom, but not necessarily local priorities. Cultural preservation- economic incentives to preserve food, fashion, festivals and physical history, but these tend to be superficial elements of a culture. Environmental protection- econ incentives to preserve nature, wildlife and urban cleanliness. Foreign exchange .generates resources to import food, pharmaceuticals, technology, consumer goods. Development of health care services -those these arent always available to local people. Disadvantages -depending upon implementation some of these can turn into advantages. Cultural destruction-(modernization world mono-culture), freezes culture as performers, loss: language, religion, rituals, material culture. primary products- sun, sand, surf, safari, suds, ski, sex (little value added, neo-colonialism) Environmental destruction -game drives, resorts: golf, ski, beach, desert, world as playground, SUV. Marginal employment -low skill, low wage, menial services, prostitution, drug trade, gambling, hustlers. Low benefits -no job security, no health care, no organizing, and no work safety rules or environ standards. Development of illegal and/or destructive economic activities- markets for drugs, endangered species, etc. Outside hiring- skilled middle and senior management recruited out of the area and transferred in. Concentration employment -walled resort enclaves. seasonal employment Outside decision making-decisions made outside of the area, corporate dollars corrupt government. Unrealistic expectations-divert young people from school and brighter futures. anti-democratic collusion- industry support of repressive governments Land controlled by the elite -people relocated, agriculture eliminated, prohibited from N.P. negative lifestyles (STDs- substance abuse, begging, hustling diverted and concentrated development -airport, roads, water, electricity to tourist destinations, development not accessible to locals little forex stays in country -airplanes, vehicles, booze, hot air balloons, generally have foreign owners package programs Cruises -eat and sleep on board so the economic benefit to the ports-of-call is very thin and limited. Unstable market -fickle, affected by local and world events, generally highly elastic. Health tourism -traveling to get medical procedure at lower cost has its own set of unique challenges, which include: Determining the credential, skills and quality of the facility and personnel. Language communication challenges on topics requiring a lot of details, sometimes even when both parties seemingly speak the same language. Different cultural issues and expectations around health care and the body. Post-treatment complications, after the tourist has left the facility. How community base tourism can be used to increase the Jamaica tourism product and make it more competitive Community base tourism can be used to increase the Jamaica tourism product and make it more competitive because it provides an alternative to development thatà ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒ ¢Ã¢â‚¬Å¾Ã‚ ¢s not sustainable, giving rural and poor community an additional source of income. You can immerse yourself in the day-to-day lives of local and indigenous people while helping them to preserve their environment and culture heritage. However people in the community earn income as land manager, entrepreneur, service and produce providers, and employees. Incomes are also set aside by the tourist for project that provides benefits to the community. The significant impact on the development of technology in travel and tourism industry Technology in travel and tourism industry in today world control and deliver swiftness and power your need to achieve your business ambitions. It is also delivers effective solution to meet their customers precise business needs increasing profit and work rate improving customer relation and decreasing cost. However you can depend on technology with the travel and tourism industry to improve the communication process. When communicating with technology you save time and money wisely and disengage from computer frequently to communication in person and help people to keep in touch with co-workers and traders in need of information. therefore technology in the industry improve the communication process, poorly design are in appropriately use technology can inner communication with workers more than it helps and it can be used in the industry to find explore analysis to exchange and present information responsively without discrimination, it also increase internationally and has speed u p the process of globalization. According to Rosendo (cuyasen, 2012), New Technology and media has changed the way of tourism. Travelers turn to the internet to research on potential destinations and do bookings online. They even include sharing their experiences of the trips they go to. The executive director of Ctrip.com said that consumers know more about the industry and travel businesses cannot make money from the information gap anymore. The past ten years has empowered consumers greatly. A great majority of travelers do their search online for bookings, travel guides and visas. According to John Liu, the executive vice-president and head of Greater China at Google, 85% of travelers do their research on the net and the average traveler does 55 online searches before a booking. Comparing and looking for information is very easy now and all kinds of information are available on the internet. Pertaining to Keith Evans, (Evans, 1999-2012) with the explosion of technological advancements in the mid and late 20th century, tourists discovered increasing access to a growing array of destinations. From promoting destinations and attracting traveler attention to enabling instant reservations and payment collection, communication technology continues to exhibit a significant impact on the tourism industry and travel in general. Communication technology plays a considerable role in travel and tourism, as much of modern tourism revolves around the ability of tourist destinations to communicate their benefits to potential visitors and the ability of those visitors to reach out to points of interest at the destination. Advantages and disadvantages of technology in the travel and tourism industry According to leelingz, (leelingz, 2011) nowadays, technology has advanced in tremendous leaps and bounds. We cannot imagine the world without technological advances such as computer, televisions, and machines and so on. However there are some advantages and disadvantages of technology. First of all, technologies play a very important role in society because it makes life easier to live on and less time consuming. Technology has the ability to create shortcuts in working. People do not have to do all the hard labor anymore. People use technology to plan their trip which makes it more convenient and easy. They can research destination to their own pace, shop around for the best fares and hotel deals, and make reservations right from your computer. On the contrary, technology also brings harm to our society. The booming of industrialization and development causes pollutions to our world. For example, the smoke from the vehicles and machines affects the quality of air and destroy the ozo ne layer. In addition, technologies also create financial problems in families because most of the technologies are expensive like computers. People that cannot afford to buy this kind of technology will live in a stressful life. On my views the important of technology in the travel and tourism industry is to get information through research, help to increase the organization revenue, to get information across to their customers and other related organizations, delivers great speed, reach audience that is physically separated from the sender and increase access ability and openness in an organization and bad part about technology is that it can create tension and conflict, easy to be over used, often lack privacy and can seriously drain employment productivity. But in my case without technology the industry could not keep up their infrastructure to keep attracting the visitor and keep the place in order. Recommendation For the recommendations, keep off with the changing of technology as technology enhance and change make sure that the business in the tourism industries can adjust to that change without any problem arising. For any business to thrive a good customer service representative is needed to portray to good quality that the business has to offer .conclusion It can be concluded that good quality service is needed to any business to thrive whether it be tourism or any other business and without technology the business will not be kept up to date.

Capital Punishment :: essays research papers fc

Introduction This day in age murderers’ actions are getting more and more incomprehensive. They are no longer just committing murder: they are torturing, mutilating, and engaging in grossly inappropriate acts against fellow human beings. Behaviors such as this will continue if nothing is done to stop them. The death penalty is a humane way to punish the convicted and deter these gruesome acts. Early as 1930, we can find the first recorded execution. Between the times of 1930 to 1967 there was a recorded number of 3,859 people executed. The following nine years would bring victory for those against capital punishment, there was no executions done in this time frame. Gregg vs. Georgia, Supreme Court of 1976 made a ruling that â€Å"the death penalty does not violate the Cruel and Unusual Punishment Clause of the Eighth Amendment.† The death penalty has been accepted by thirty-nine states of America (Newton, 1983).   Ã‚  Ã‚  Ã‚  Ã‚  One of the basics in understanding capital punishment is the methods of which are used. Which will be the first of things I will be presenting. I will be showing how selections of death row are made. The last of subject matters that I will be touching on are the problems with the process of capital punishment and a possible more effective approach. I will also be concluding my findings and ending with a thought of my own. Methods of Execution In the United States today, there are five existing methods of execution. These methods are used to kill convicted criminals that have been given the sentence of the death penalty. The different methods are; lethal injection, electrocution, gas chamber, hanging, and firing squad shootings.   Ã‚  Ã‚  Ã‚  Ã‚  Lethal injection is currently used by thirty-six states in America. It is the most commonly used from of execution in the U.S. The preparation begins outside of the chamber with the use of a gurney. The convict is held to the gurney by wrist and ankle straps. There is then a cardiac monitor and stethoscope attached and started. In each arm there is a saline intravenous line. The convict is then covered by a sheet. The lines are turned off and the felon receives the first injection of sodium thiopental. This puts the felon to sleep. They are then injected with Pavulon, which relaxes all of the muscles in the body and stops breathing. Shortly after, the felon dies.   Ã‚  Ã‚  Ã‚  Ã‚  The next method of execution used is electrocution. This method is done by putting the person in a wooden chair, which they are secured to by leather straps.

Pen Pal Letter

I am so glad that I got your letter and that I have got the chance to get to know you so well over the past year. The Internet is something that I never would have thought that I needed 20 years ago, but yet now it is something I cannot seem to go a day without using. Imagine knowledge about anything that is just a search engine and click away. Imagine a web site that allowed you to get a glimpse of what your dad’s day to day life is like or any people that you know that do not live in the same town. I keep up with my family through a site called Facebook.The Internet started with genuine and sincere intentions, but over the years, it has been overrun with meaningless statements. I remember you mentioning that when you go to spend your summers with your father, that the local library there has Internet access. The next time that you go, if you decide to learn about anything, look for web addresses ending in . edu, . org, or . gov to make sure that the information you are looki ng at is actually based on fact. Also, add me on Facebook! I would love to hear from you more often than just in our letters.The web addresses that end in . edu are sites that dedicate themselves to current events or issues that surround an educational institution and are closely monitored by the school to maintain credibility. Web sites that end in . org are connected to non-profit organizations and are monitored by them as well. Web sites ending in . gov are connected to and monitored by a specific government organization. All of these can be considered to be credible sites to educate you about a particular subject.Anyone can purchase a web address ending in .com, so if you do find yourself on a site that is not any of the ones I have mentioned, cross reference the information with a site with the addresses ending like the ones I talked about just to make sure the information that is said on the site is real. You mentioned the term digital divide in your letter and you asked me wh at it meant. I initially did not know what it meant, but I did some research for you and found out some interesting things about it. It means that while people with access to the Internet are able to capitalize on its uses, there are places like where you live that cannot because of not having Internet access.Having Internet access can bring more jobs to your hometown and can make local businesses like your mom’s textile shop more money by offering her products to people online. Just think of last year around the time that I was celebrating Christmas and your mom was booked with orders for rugs and clothing. People would be able to request a garment or rug and your mother would bring in more money to your family more regularly. As for how I think the divide can be bridged, it has to be a huge effort brought forth by your community.Rally your townspeople and community leaders together to bid for a company to come in and start the groundwork required to install the wires that a re needed to connect online. There are Internet companies that love capitalizing on up and coming consumer markets, so you might be able to get them on board to front the technology for your town in exchange for potential consumer business. It sounds really complicated but if your heart is in the right place, I am sure that you will find more people in your town that wish they could have Internet access.The good that it can do for your community could be endless and could make your town a better place by bringing in more revenue that can go towards maintaining public buildings and toward education. I love getting your letters and cannot wait to hear from you. If I get a friend request from you this summer, I will be so excited. Let me know how your research goes once you are able to get to the library. I know a lot of your summer vacation at your dad’s is pretty busy, so there is no hurry. I hope that this letter finds your family in good health and good spirits. Take care an d I hope to hear from you again soon.