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Transcript of 01.04 Demand
Add another curve to your graph that represents a decrease in demand and label it D2. Using the acronym TRIBE, explain in a few sentences a situation that could have resulted in the decrease, specific to the product you chose.
Due to bad reviews on her makeup line, fans refuse to buy her cosmetics. Consumers have switched to other cosmetic lines that have reasonable prices. Also, since her prices have rised in recent months, competing company's have drawn many of her consumers to them.
Demand for Kylie Lip Kits
Add a curve to your graph that represents an increase in demand and label it D1. Using the acronym TRIBE, explain in a few sentences a situation that could have resulted in the increase, specific to the product you chose.
Kylie lip kits were extremely popular when they first came out on the market, selling out within minutes of their debute. The Kardashian family and their close celebrity friends promoted Kylie Cosmetics leading to an increase in lip kits being sold. When an item becomes popular more people start buying the product.