Supply And Demand Essay

Published: 2021-09-13 06:05:11
essay essay

Category: Business

Type of paper: Essay

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On January 30, millions of televisions will be tuned in to the AmericanBroadcast Company’s live coverage of the Super Bowl. The three hour-plus eventdraws as many as 130 million viewers at one time.
According to NFL Research,sixty eight percent of Super Bowl viewers say they pay attention to thecommercials and fifty two percent said they discussed the ads the next day. Withso many people watching the event, businesses see the Super Bowl as a goldenopportunity to lure in profits by utilizing the commercial air time available. Due to the unlimited wants and limited resources, an economic condition calledscarcity results. Another economic principle, called investment, is exemplifiedin this article.
Scarcity is a condition that exists because society hasunlimited wants and needs, but there are limited resources for theirsatisfaction. During the three hour-plus football game, there will beopportunities for large businesses (and even some small businesses who havegambled on this form of advertising) to display their product or service to overa hundred million people. At an even greater expense, some companies aresponsoring pre-game, half-time, and post-game shows. Why does it cost so muchmoney? Commercials during the Super Bowl are very powerful means of advertising. Companies can appeal to a larger audience by advertising during an event that iswidely watched among all different groups.
The commercials are also quiteexpensive because of the limited quantity. Advertising during the Super Bowl isa very smart investment. Investment is defined by the sacrifice of currentbenefits to pursue an activity with expectations of greater future benefits orrewards. Does this apply to the Super Bowl? Yes.
Companies will dish outmillions of dollars for 30-second blocks of air time. Some companies may evenpurchase more than that. The short term result is a loss of millions. That moneyinvested in advertising, however, should return much more than that which wasinvested. The commercial air time during the Super Bowl is such a valuablecommodity, that although it costs millions of dollars, those who invest in thisform of advertising believe they will make a much greater profit in return.
380WordsBibliographyCatherine Valenti, (January 16,2000), War of the Web Sites, ABCNEWS.com,http://www.abcnews.go.com/sections/business/dailynews/superbowl_netads_000113.html .

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