Supply and Demand
Rasmussen College
Author Note
This paper is being submitted on August 18, 2013, for Donna Carignan’s B136/GEB1011 Introduction to Business course.
Supply and Demand
Consumer and producer expectations have a way of influencing customer perception of the price and taste climate of a business. These supply and demand factors can impact a business operation and affect its competitors. Supplies are assets until they are used by the demands that influence business operations such as an example the Subway located at 2406 Land O' Lakes Boulevard, Land O' Lakes, FL 34639 (Google Map). As one of several convenient food service providers to consumers situated in the vicinity of the intersection of highway 54 and Land O' Lakes Boulevard. “Whenever there is a change in one of the factors of ...view middle of the document...
Products have different sensitivity to changes in price. Subway’s healthy and economic marketing approach anticipates attracting those consumer’s demands. However, their competitors’ pricing can influence their own produce price, to include the expectation of the producer assessment on its supply demand.
Demand
Factors such as consumer expectation and taste affect a consumer purchasing habit. A health economic conscious consumer may value Subway over the fast-food changes as the ideal venue suited to meet their supply demand. This expectation can determine whether an individual by-pass the food-change. In general, food service providers as Subway rely on consumer taste in determining the product in which is required to maintain in their supply. Changing in consumer tastes potentially can reject a demand and effect supply. High fashionable goods and services attractive consumer demand taste in the same way as advertising is designed to influence consumer taste. If consumer decrease or stop purchasing a Subway item it would indicate an expectation in a change in demand.
Applying economic concept strategies challenge a producer as Subway to constantly analyzing effects on consumer forecasting, pricing, and taste. Especially since each of these factors can also affect the others supply and demand performance. In adequate consumer forecasting, and understanding the effect pricing, and taste risk supply and demand miss management.
References
Econport, Impact of Shifts in Demand and Supply, http://www.econport.org/content/handbook/
Equilibrium/Impact-.html
Google, Google Map, https://maps.google.com/maps?ie=UTF-8&q=subway+land+o+lakes
+locations&fb=1&gl=us&hq=subway&hnear=0x88c2bb2de32d3337:0x8c723509b9335acd,
Land+O'+Lakes,+FL&cid=0,0,559042479318962229&ei=rRkQUs7pBqGr2QXjsIA4&ved
=0CJkBEPwSMAs
