How marketing shifts demand curves for flavoured water
The ABC’s Gruen show discussing the market demand for water; by positioning it as a healthy alternative to soft drinks, it increases market demand. Advertising shifts market demand; consumers are willing to purchase more of it at a higher price.
ACARA Alignment: ACHEK017
Clip Length: 2:46 minutes
Year: 2022
URL: https://youtu.be/zMC6pWETZpw?si=V7PCAxMa0wQuilA7
Economics Concepts: Consumer demand, shifting the demand curve
- This is a good way to link in how businesses use marketing to try to shift consumer tastes and preferences.
- Next show the clip
- Now draw a supply and demand curve for bottled water (as below). Illustrate the equilibrium before advertising. Draw a second demand curve and show how with advertising, consumer demand has increased, bottled water firms are able to sell a larger volume at a higher price.
- Now create a Menti and get students to share a recent purchase that was influenced by either advertising or social media. If you have time, you can randomly select products and ask if the student wants to share what it was about the advertising / promotion that changed their tastes / preferences for the product.