Social Media's Affection

Starline Kitalong

Social Media’s affection

Social media is supposed to be entertaining and performing positive communications between friends and families and not taking away any family time. As we all know holidays are coming up so families are planning on get together and spend time together but social media can affect the bond between the families. Although this can affect the families it could also have a huge impact on Businesses, Politics, and just seclusion itself. Many people have experienced bad relationships with their families due to social media and how it has affect the economy. According to Jenny,she said, “Net savvy companies are using social media to advertise their products, build customer loyalty and many other functions. Interactions and feedback from customers help businesses to understand the market, and fine-tune their products and strategies. Many firms organize contests and give away prizes to enthuse consumers to visit their social website page more often. Compared to television advertisements and other expensive forms of marketing, social media presence is a cheap and effective means to enhance brand image and popularity” (Jenny). Although families wanna spend their time together around this time of year, companies and businesses also wants to increase their supply around this special holidays were mostly everyone celebrate so consumers could increase their demand for their product.

The graph above shows how much/which social medias are being used the most so the companies could advertise their product on that specific social media. The huge problem about social media is that families are getting together to spend time together but social medias are taking their time away from each other. This will only benefit the businesses and companies because of their advertisements, on the other hand people who are using social medias are not interacting with their own family instead they rather read statuses or scrolling down on instagram liking each others pictures. The increase use of social media would increase the quantity demand which will also increase the quantity supply.

Finally social media has its advantage and disadvantage, it could benefit the companies and businesses but on the other hand it could be a drawback when it comes to families, when they have a family time. Even though this writing is about how social media's could affect the families, companies and businesses, it can also affect productivity and politics. Overall social media’s has a huge impact on the economy.

"What Impact Has Social Media Truly Had On Society." Business 2 Community. N.p., n.d. Web. 20 Dec. 2016.

    The AgencyLogic Blog. N.p., n.d. Web. 20 Dec. 2016.

Music Festivals and the Economy

Music Festivals and the Economy

By Sophia Buss

I’m sure that most of you have heard of different music festivals that go on throughout the year; EDC (Electric Daisy Carnival), Electric Forest, Summer Camp, Winter Warmer and so on. These events have always been known as something fun and carefree to go do with a group of friends. Almost like- really intense, extended camping. But have you ever thought about the effects all these events have on the economy? If they’re positive effects or negative effects?

So it turns out that there are even greater benefits to music festivals than feeling free and letting loose for about a week... It’s actually a great boost for the economy! Most festival goers have to do a decent amount of traveling to get to whatever event they’re attending. When traveling around similar to a vacation- people tend to spend their money as if they’re on vacation. Local firms, restaurants and hotels have claimed to see the rise in their sales while festivals are going on near by. Not only do the festivals benefit locals, but it also creates jobs. The equivalent of about 25,000 full-time jobs were created. Insomniac, a dance-music promoter, has 48 events that have supported some $180 million in taxes for state and local governments. Though a couple billion dollars may not seem to be very much in comparison to America’s gross domestic product- GDP (that totals above $16 trillion) it’s pretty impressive for a mass amount of kids running around and dancing in an enchanted forest covered head to toe in glitter and dirt- it’s quite the sight.  

Music festivals have improved and evolved since the early 1990’s and could now be considered to be stable businesses- promoting “buying sprees” to festival goers. It is a possibility that these events are becoming more and more popular not only because they’re obviously fun, but they can also greatly increase consumption and generate jobs.

One of the only disadvantages to having these events are that sometimes the local residents complain about noise or crowds beginning to get too “rowdy”. But after going over all of the benefits of festivals and seeing that this is the biggest downfall, why not continue to let the festival community grow and expand? Let loose, have some fun and give the economy a little boost!

Cited Sources

@bizjournalism. "Entertaining Business: The Impact Of Music Festivals." Reynolds Center. N.p., 21 Mar. 2016. Web. 22 Dec. 2016.

Shah, Neil. "How Music Festivals Pump Billions into the U.S. Economy." The Wall Street Journal. Dow Jones & Company, 31 July 2015. Web. 22 Dec. 2016.

"New York's Classical Music Radio Station." WQXR. N.p., n.d. Web. 22 Dec. 2016.

The Economy of Memes

Nick Sallman

Mr. Reuter

Economics

20 Dec. 2016

The Economy of Memes

The definition of Meme or memes is  “an element of a culture or system of behavior that may be considered to be passed from one individual to another by nongenetic means, especially imitation. a humorous image, video, piece of text, etc. that is copied (often with slight variations) and spread rapidly by Internet users” (Google Dictionary). The popular memes are changing frequently as Demand for new memes increase the supply of new memes flow strongly. A popular location to view memes in social media where you can typically find thousands of memes per day. Recently the trending meme has been the Bee Movie where the joke is the entire bee movie but with a twist. This is another meme over here ----> where the Rock is displayed several times buttoning his sleeve. Memes typically don’t involve logic they just have some sort of pun or joke hence the bee movie taking all the fame. Another meme that has been very popular is one that most know and love that is sadly beginning to die. This meme is known as Harambe. Harambe was a gorilla that died because of a parent that let their child fall into the gorilla exhibit at Cincinnati zoo. These memes are not so much jokes, these ones serve as a tribute to our Harambe. Harambe memes are one of the most popular memes I have seen and one of the most long lasting starting On May 28th, 2016 the day of Harambe’s passing. This day meme artists took the opportunity cost to create Harambe memes in honor of the Fallen Harambe. While I understand the Harambe is sad for many lovers of nature out there it has been about 7 months since his passing and he’s still managing to make it on to popular meme pages if this isn’t dedication to honoring a fallen Harambe then I’m not sure what is. Now you may be wondering “what do Memes have to do with economics?” well my colleagues Memes are very similar to buying and investing. Much like investing you choose to create a Meme at the best possible time in order to gain the most popularity for your Meme thus the opportunity cost of a meme is implemented. Another thing about memes no matter what the meme there is always a substitute for a meme with another pun giving you hours of endless comedy or excitement. The meme market is an open market and always has opportunities to join. A Meme is more than a simple joke a meme is a work of art. Memes can display a comical situation, a fallen Harambe, A jerry Seinfeld movie, and many other subjects. Without memes our society would be a very bland and boring place to live. There are many benefits to having memes in our world and thus Memes have brought us to the place we live today. If you ever get bored simply look up memes I can promise you will not be disappointed the search is definitely worth it

Cited Sources

• "Google." Google. N.p., n.d. Web. 19 Dec. 2016. https://www.google.com/webhp?sourceid=chrome-instant&%3Bion=1&%3Bespv=2&%3Bie=UTF-8&%3Bsafe=active&%3Bssui=on#q=definition%20of%20memes&safe=active&ssui=on
• "Meme Center - Largest Creative Humor Community." MemeCenter. N.p., n.d. Web. 19 Dec. 2016. http://www.memecenter.com/top/daily

Food Waste

By Evie Bayer

Life. One word, but people may incorporate it differently as the word itself can be thought of and seen in endless ways.Though, when it comes to life, how many people are considerate and think about not just others, but the world around them too? For instance, isn’t it a blessing to have food on our plates so we don’t starve? Of course it is! However, isn’t it heartbreaking to see a kid at school buy a lunch, but then throw away a majority of what’s left on the tray? Isn’t it sad to see so much food being tossed, when there are several people in the world who are in need and starve daily?

The United States wastes approximately $165 billion in food every year while globally, “human beings produce enough food waste to feed 3 billion people” (Juul). People are constantly wasting nondurable goods by either putting too much on their plate, or by throwing away food that could be eaten as a leftover. In fact, 30% of the world’s food supply is wasted. Wasting food does not benefit anybody because in fact, one who does is also impacting themselves in an unfortunate way. If people have eyes bigger than their stomach, then taking smaller portions can be more beneficial. Additionally, if a person were to save their food, good can come out of it.When the consumer price index of retail goods and other items increases, people will have less money in her household to budget for other purchases. Therefore, it would be beneficial for people to save leftovers because they would save money.

Additionally, trade offs play a role in wasting food because people “must put thought into every purchase and how it affects one's bank account” (Study). Also, a person must think about the satisfaction a specific purchase will give us. People’s resources are limited, such as money and time. Therefore, people must choose how to best set aside their options by making trade-offs. Furthermore, it’s said that the earth’s population will reach 9 billion people by 2050. By then, “food production must be increased by 70% to meet demand” (Juul). Though, with people wasting more and more food, it only causes more issues. The UN estimates that in just 20 years, the earth’s population will need at least 50% more food, 45% more energy, and 30% more water. If people were to stop wasting food, our society would be changed.

Overall, people need to think outside the box when it comes to food. Rather than somebody throwing away food or eating something they’re bound to throw away in the end due to disliking a certain mean, think about how these actions could impact not just an individual, but the world around them as well.

Works Cited

Chan, Casey. "How Much Food Do We Waste Every Year?" Gizmodo, July 18, 2013

http://gizmodo.com/how-much-food-do-we-waste-every-year-831279806

Chestney, Nina Chestney. “World lacks enough food, fuel, as population soars: U.N.” World News, Jan 30, 2012.

http://www.reuters.com/article/us-un-development-idUSTRE80T10520120130

Hill, Aaron. "Trade-Offs in Economics: Definition & Examples."  Study.com, 2003.

http://study.com/academy/lesson/trade-offs-in-economics-definition-examples.htm

Juul, Selina. "Stop Wasting Food." Think Eat Save, 2014

http://thinkeatsave.org/index.php/stop-wasting-food

Stepping on the Plastic pains Marketing Tactics

Stepping On The Plastic Pains Marketing Tactics

-Nate Berard

Alright, let’s talk about a thing thousands have had to learn about time and time again, marketing. Now I’m going to give a modern look on how a company, in this case The Lego Company, has had to change everything they’ve known to make it in the modern era known as the 2010’s.

So everyone knows what Lego is, it may mostly be from stepping on your own or siblings bricks and feeling the pain of death shoot through you, but it’s much more complex than that. Lego is a brand that will be 68 years old in 2017 and it is still growing. Now if you want a short 17 minute summary of how Lego was created click HERE. If not, continue to read this post.

Let’s return to the topic of marketing now. Marketing is what every company in the world does be it on TV, a billboard, in the newspaper, your phone, or even on your friends right shoe. Marketing is how companies show off their products to the world and try to get it stuck in a person’s head so they will eventually attempt to buy it. The Lego Company is not new to this at all. From TV ads, to online ads, to their theme parks, TV shows, and even their movies. Yes Lego has grown at an exponential rate since they almost shut down in 2003-. 2003 is Lego’s worst year because no one seemed to buy anything that was made by them. Even their coming to fame toyline, Bionicle, was failing. But this was not due to any marketing failure, no in fact some believe that Lego was almost lost because Lego over advertised their items. So everything they did made the DEMAND of Lego sets to drop into dangerous territory almost creating a MARKET FAILURE.

Then in 2006 the Lego Bionicle line titled “Bionicle Ignika” came out with a special kind of marketing, they took the popular at the time band, All American Rejects, and had the slogan “Save The Band” on all of the commercials. Some people may remember the commercials all over the Nickelodeon channel and Cartoon Network back then, click HERE to see the short commercial about it. Now this was the year that Lego officially made their comeback as the company was saved by the toy line, Bionicle. Now after those commercials the Bionicle Ignika got a video game titled “Bionicle Heroes”. Now this game was loved by kids at the time and that ended up in them getting the toys to act out the game or to create their own scenarios.

After that Lego hit a state of pure bliss in sales and they racked in the bucks. But then, in 2014, a movie came out that boosted sales dramatically. The Lego Movie advertising was crazy for this full length feature film. The slogan for the film was “Be The Special” which many kids and adults took to heart in very positive ways. That slogan made kids want to get Lego sets and make their own stories and be their own “special” like the movie suggested. So with that movie coming out, it brought in the buck with the eventual rise of Lego in the toy company department beating out Matel.

With the success that movie brought in, Lego almost immediately ordered 3 more movies. The Lego Ninjago Movie, The Lego Movie 2, and the film coming out in february, The Lego Batman Movie. You can see the trailer for The Lego Batman Movie by clicking the link posted here. With the release of that movie, new sets come out. And like always, Target releases them early, If you care to see what they are, you can see the sets by clicking that link.

Lego has definitely done more than TV spots and movies. They also have done TV shows like Lego: Legends of Chima, Lego Nexo Knights, and the most famous of the shows Lego Ninjago. All three of those shows have been growing strong and have helped boost sales. Especially Ninjago with it’s 4+ season run now.

Those shows are just like TV shows from the 80’s, they are made to sell toys. We can show a comparison with the very popular show and toy Transformers, which started out as a show in the 1980’s made just to sell toys, and now it is a worldwide phenomenon just like the new lego shows are like.

To wrap up, Lego has learned that they need to pander to the kids of today. They make apps for phones, TV shows, movies with iconic characters, and more. And all of those kinds of things are marketing ploys that work. And since it works, it means that Lego makes a lot of money because of their advertising jobs across many platforms.

Works Cited

"Best Lego Movie Quotes." Quotesgram. N.p., n.d. Web. 18 Nov. 2016.

Bionicle Heroes Trailer. N.p., 17 Nov. 2006. Web. 18 Nov. 2016.

BREAKING NEWS: 2017 Lego Batman Movie Sets Revealed. N.p., 13 Nov. 2016. Web. 18 Nov. 2016.

Free The Band Commercial (2006). N.p., 27 Mar. 2016. Web. 18 Nov. 2016.

The LEGO Batman Movie – Trailer #4. N.p., 4 Nov. 2016. Web. 18 Nov. 2016.

The LEGO® Story. N.p., 10 Aug. 2012. Web. 18 Nov. 2016.

"The TTV Podcast." The TTV Podcast. N.p., n.d. Web. 18 Nov. 2016.

Economics of Apple and the new Pixel Phone

Economics of Apple and the new Pixel Phone

Written by: Brianna Cieslak

Now that Christmas is just right around the corner, sales are being increase for all Apple products. IPhones, tablets and other kind of computer accessories, are flying off the shelves at all stores. With the holiday season comes a great increase in all product activity. The demand for all of Apple products increase due to Black Friday having a slight sale which increases all sales. This makes customers want to go out and spend their Thanksgiving day buying all of Apple's products for a cheaper price. The chart below has all of Apple’s IPhone sales from 2007-2015. As you can tell, each year the number for IPhones increases. It’s extremely astonishing because Apple is in a Monopolistic Competitive Market which means their competition is extremely high.

Even though the demand may increase, if Apple didn't prepare for their sale their supply may be low and all of their customers may not get the products that they want. This leads to substitution of any other kind of cell phone like the IPhone. Google has now released a new Pixel Phone which will make customers want to substitute their already owned IPhone with the new Google phone. Even though the Apple IPhone already has a high rated camera, the new Pixel Phone by Google is rated the highest smartphone camera ever. And when people run out of storage with their ICloud service on all Apple devices, Google is now offering unlimited storage for all photos and videos. This gives Apple’s customers the incentive to switch to using the Pixel Phone because of the new features that it offers. Even though Apple already has competition with the Samsung Galaxies, it now adds an even greater competitor with the new Pixel Phone by Google. With all the new features that the Pixel Phone is offering, will you switch to using a Google phone?

Attached to this blog post is a video about the new Pixel Google Phone if you’d like to learn more.  https://youtu.be/Rykmwn0SMWU

Works Cited:

@lukedormehl. "The astonishing rise of iPhone sales in one amazing chart." Cult of Mac. N.p., 2015. Web. 21 Dec. 2016.

Google. YouTube. YouTube, 2016. Web. 21 Dec. 2016.

"How Google Pixel will impact Apple's iPhone ecosystem." The Economic Times. N.p., n.d. Web. 21 Dec. 2016.

Stranger Things?? Stranger Things.

Stranger Things?? Stranger Things.

Kavitha Babu

Will Byers goes missing, Mike meets Eleven, and the demogorgon isn’t just part of “Dungeons and Dragons” anymore, and from then on, everything goes downhill. Strangers Things has taken the world by storm and months after its release it is still in the minds of viewers. The science-fiction, horror television show was released on Netflix on July 15, 2016. Since then, not only has it increased the assets and sales of Netflix, but it also has been one of the most buzzed about shows of 2016. It has revolutionized the television industry, and I can say this because it’s not like I’m biased or anything.

The first season, which consists of eight episodes, has been acclaimed for its characterization, pacing, writing, directing, soundtrack, and even its homage to 1980’s pop culture. Being a Netflix Original, this show has advanced the company in terms of its finances and demand. And as an avid fanatic of the show, I can assure you that it has improved the lives of millions of people.

The addition of the show increased the stocks of Netflix by nearly 29%. As of July 22, 2016, stocks were priced at approximately $86. As of December 8th, they were priced at approximately $125. Since the release of “Stranger Things” there has been an increase of nearly $30, and in just five months. Beforehand, as you can see in the graph below, stocks were decreasing in July of 2016. After Stranger Things came out, stocks went up and have been increasing (as a whole) since then.

Not only did the emergence of Stranger Things increase Netflix’s stocks, but it also improved their assets tremendously. In the second quarter of 2016, March to June, their assets increased by $300,000. For many companies, that would a whopping amount of money. But get this, in the next quarter (June to September) after Stranger Things was released, Netflix’s assets increased from $11,593,507 to $17,541,231 - nearly 6 million dollars. It’s crazy how much of an impact this one show has had on the firm. This is also in part by the contract created between Hot Topic and Netflix. Hot Topic is well known for the merchandise they carry for the music industry and for the entertainment industry. They now carry an entire line of Stranger Things merch. This was a really good play on the side of Netflix. Since the show has had so much buzz, they can continue the excitement by releasing shirts and keychains and accessories. This increases sales for both Hot Topic and for Netflix, making it a win in terms of revenue for both companies and its consumers.

If all this justs seems like a coincidence, then another coincidence is that the amount of Netflix subscribers increased by 3 million in the third quarter (a.k.a the quarter in which Stranger Things was released). In the quarter beforehand, the increase of subscribers was 1.5 million. From the beginning of 2016 the amount of subscribers seemed to increase on a steady rate, yet after the show was released the increase doubled. The demand for Netflix increased because of Stranger Things, causing for more people to buy a subscription.

It sounds to me like Stranger Things really has made an impact. Many people might think that the third quarter of 2016 was particularly good to Netflix, but I would make the case that it was because of Stranger Things. I’m pretty sure if you were to look back at times when House of Cards or Orange is the New Black was released, there would be similar trends.

As we look back at what 2016 has been, Stranger Things is one of the most prominent parts. I mean, it’s referred to in the first 20 seconds of Youtube Rewind (which if you don’t know is a video compiling the biggest trends of the year. If you do go decide to watch it, the first reference is of the two guys riding the bikes towards the screen, while the second and third are shortly after with the same people. They are supposed to be Will and Mike).

Stranger Things is one of my favorite things in the entire world. So, if you still aren’t convinced to watch, then here’s the trailer. And if that doesn’t do it, then I’m terribly sorry for the deprived life you live.

Does Christmas Music Affect the Way we Shop?

Does Christmas Music Affect the Way We Shop?

By Molly Weinfurter

Every year, Christmas music seems come sooner and sooner, often much earlier than people would like. But what is the reasoning for it? Sure, it sounds as if it would be good profit, but then again, is it really beneficial to be playing Christmas music before listeners are even ready to hear it? According to incomics.com, in 2014 there were radio stations there were already playing Christmas songs on October 24th. It is only a matter of time before it becomes even earlier.

But how does this early Christmas music affect us as consumers? Christmas is definitely a time of year when people spend the most, so it would be assumed that customers may be influenced to buy more simply by listening to Christmas music in a store. However, a study about early Christmas music in stores on psychologytoday.com states “Compared to those listening to pop songs, consumers who heard Christmas music provided lower evaluations of the store on every dimension, including their overall impression of the store”. It may not seem like the music playing while a person is shopping can ultimately affect their shopping experience, but clearly subtle items such as early Christmas music truly can impact people as well as cause their demand for those specific stores to decrease.

However, playing Christmas music is not necessarily always a bad thing. Despite the time of year, this type of music tends to give a cheerful vibe to listeners whether they realize it or not. Psychology Today states that “Using these data to suggest that Christmas music causes greater spending is like saying that increased ice cream consumption in the summer is the reason more people wear shorts”. But even so, there will always be certain individuals that despise Christmas music, whether it is early or not. So yes, Christmas music could cause sales to increase for select customers, but starting it too early will always cause other individuals to turn away in disgust. And the sad thing is that most Americans do not even listen to Christmas music. According to the chart below from Pandora, less than 20% of each state’s population is listening to Christmas music, which really does not seem like a huge amount at all. While stores could use a substitute such as playing a mix of Christmas and pop music, they tend to either go all out Christmas or none at all. Therefore, while Christmas music may seem very cheery, stores really need to consider the effects that it can really have on all of those people who really do not get into the Christmas spirit, especially when it is played way too early.

Barnes, Tom. “Statistics Prove That Utah Officially Loves Christmas Music Much More

Than Anyone Else” Music.Mic N.p. N.d. 09 Dec. 2016.

Macdonald, Claire. "The Economics of Christmas Songs: When to Start Playing Jingle

Bell Rock?" The Economics of Christmas Songs: When to Start Playing Jingle

Bell Rock? N.p., 2014. Web. 09 Dec. 2016.

PsychToday. "Does Christmas Music Make Us Buy Less?" Psychology Today. N.p., n.d.

Web. 09 Dec. 2016.