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Supply and Demand Marketing Co-Op

Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

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Page 1: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Supply and Demand

Marketing Co-Op

Page 2: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

What is it?the amount of goods producers (sellers) are willing and able to sell

Supply:

the amount of goods customers (buyers) are willing and able to buy

Demand:

Page 3: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Law of SupplyAs price increases the amount producers are willing and able to produce increases

P 2

P 3

P 1

Q 1 Q 3Q 2

The arrows move in the same direction!!

Page 4: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Cost of production

Number of producers (competition)

Disasters and other big events

Labor union demands

Technology and inventions

Prices of other products

Factors Affecting Supply

Page 5: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Law of DemandAs price increases the amount the customer is willing and able to pay decreases

P 2

P 3

P 1

Q 1 Q 3Q 2

The arrows move in different directions!!

Page 6: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Tastes and preferences

Number of consumers

Consumer (market) expectations

Substitute goods

Promotion (sales, commercials, customer awareness)

Factors Affecting Demand

Page 7: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

ELASTICITYThe degree to which demand for a product is affected by price

Elastic InelasticA change in price creates a change is demand

A change is price has very little effect on demand

Page 8: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Diminishing Marginal UtilityThe point at which consumers will only buy so much of a given product, regardless of how low the price is

Page 9: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Equilibrium: when supply and demand are equal

Shortage: when demand exceeds supply

Surplus: when supply exceeds demand

Graphing Supply and Demand

Page 10: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Graphing Supply and Demand

Equilibrium

Surplus

Shortage

Supply

Demand

P1

P2

P3

Q1 Q2 Q3

Page 11: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Supply and Demand Activity

Pennies and Paperclips

Page 12: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Competition

A rivalry between two or more businesses to attract scarce customer dollars

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Page 13: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Price: using prices to attract customers

Non-price: using anything other than the sale price of a product

◦ Ex: higher quality, new features, larger assortment

Monopoly: there is only one supplier of a product (there is no competition)

3 Types of Competition

Page 14: Marketing Co-Op. the amount of goods producers (sellers) are willing and able to sell Supply: the amount of goods customers (buyers) are willing and able

Lower prices

Better quality products

New, improved products

Choice of where to buy

Wider product selection

More and better customer service

Effects of Competition on the Customer


Grant willing

Grant willing

Art & Photos
Supply = the amount of goods generally available

Supply = the amount of goods generally available

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