Blog#8
http://news.bbc.co.uk/2/hi/business/8572863.stm
Description:
Marketing-The total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling.
Industry-Any general business activity; commercial enterprise.
Malcolm Ford-head of UK-based Funtime Gifts, has been involved in the industry since 1970.
China-People's Republic of, a country in E Asia. 1,221,591,778; 3,691,502 sq. mi. (9,560,990 sq. km). Capital: Beijing. Most of the items manufacture today are all from China.
Analysis:
The novelty gift industry is relatively recent and its production comes from China. China makes about 60 percent cheap goods worldwide and it is 35 billion dollar industry. Malcolm Ford says that "in a recession people cut back on the biggies". With this being said people are wanting to spend money on cheaper thing."They don't feel as if they're human if they're not spending money on something." says Malcolm Ford.
Explanation:
This article is explaining peoples need for demands. People spend money regardless of a recession and the Chinese are coming up with new innovations to satisfy the needs of westerners. Is this a good or bad thing for our economy? keeping in mind of the carbon emission.Though the article jumps back in forth the main component of the article is marketing of cheap gift items.
Prediction:
The problem of our current economy is the recession along with the up scale of inflation. The only way i can see these items helping the economy is because there is a circulation of money going around. On the other hand i can see it hurting the economy because if the Chinese keep producing inexpensive items people will just be forced to buy and not to save.
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"They don't feel as if they're human if they're not spending money on something," is a true and intriguing quotation. It's human nature for us to satisfy our desires. And one of our desires is to have as many things as possible, so people who don't have alot of financial funds will spend their money on cheap things to satisfy their consumeristic desires.
ReplyDeleteI know i would have to agree. I wounder what possible solutions could be made if we were to stop the spending on cheap good and save up money. A scare tactic maybe?:)
ReplyDeleteI like this article but, I do agree that people should not spend as much even if prices are low but not doubt about it they will. The major issie in my prspective is that how producing all these goods for cheap will cause a lot of problems with the green house gases an especially since these items are being made cheap the products they are made with are probally not good for the earth. In what ways do you think we could get the public to realize this issue and how would you hellp to stop this issue ?
ReplyDeleteI agree with everyone's comments. I also think people just save money so other people can buy things. It would be a great thing if people would stop spending the little money they have some some people can get loans on important things in life such as homes. But this would only be effective if the banks loaned to reliable people. This would make our economy better in one aspect.
ReplyDeleteTo answer your question Imani there a various solutions to make people realize that making these products are harmful to the environment.The main solution is publicizing.
ReplyDeleteI agree with Aujenee's comment because the major issue with our economy now days is that people want to spend the little money they have which is causing people to get behind on payments and savings and lending are very scarce at the moment.so yes, i can see were your coming from.
ReplyDelete