Investigating Local Markets
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This document summarizes the prices of 0.3 liter Coca-Cola cans from various vendors in a local market. It finds that prices range from 50 RSD at a kiosk to 255 RSD at a club, with an average market price of 112 RSD. It also notes that the product's potential customers are people of any gender or age. The document then lists factors that could impact the price of Coca-Cola, such as ingredients, and notes that demand may be influenced by customer income levels and seasonal events.
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Investigating Local Markets
- 1. Investigate a local market Product: Coca-Cola 0,3 liter can Tasa Grujic Economics HL
- 2. Prices Prices of my product in my area: • Supermarket “Maxi” : 55 RSD (0.5 Euros) • Kiosk: 50 RSD (0.45 Euros) • Café “Aloha” : 130 RSD (1.2 Euros) • School Cafeteria: 70 RSD (0.6 Euros) • Club: 255 RSD (2.3 Euros) ---------------------------------------------------------------- Market price: 112 RSD (1 euro)
- 3. Types of costumers • Any person, of any gender and age is most likely to buy this product.
- 4. Replacement of my Product There are two type of costumers/consumers: 1. Loyal-Package costumer • Costumers/consumers that only drink from one package. If Coca-cola wasn’t in the fridge, they would buy a different fizzy drink in a 0,33 can 2. Loyal-Brand costumer • Costumers/consumers that only drink drinks from one brand. If Coca-cola wasn’t in the fridge, they would buy a different fizzy drink from the same company
- 5. The determinants that might impact the price of the product • Ingredients • Carbonated water • Sugar (sucrose or high-fructose corn syrup depending on country of origin) • Caffeine • Phosphoric acid • Caramel color • Natural flavorings Source: Wikipedia
- 6. Demand and factors that influenced a shift 1. Income of the costumer/consumer 2. Time of year and events
- 8. 1. Income of the costumer/consumer 2. Time of year and events The red line represents the “norm” for the demand. If we take case #1, as the community’s celery rises, more people can afford the drink, therefore the company may increase the price. If we take case #2, as the seasons of the year change from winter to summer, the prices may rise because it is more likely for human beings to refresh themselves with Coca-Cola in the summer than in the winter. Also, many festivals and concerts are organized during the spring/summer period, therefore, it is logical for the price to rise.
- 9. Thank you! Tasa