Hello Y10 I hope you had a fab Winter Break! Today's blogging Sunday is all about something called seasonal demand.
Demand is defined on Tutor2U as follows:
"Demand is the quantity of a good or service that consumers are willing and able to buy at a given price in a given time period."
Below you will see a bunch of photos of some of the presents I bought for my Nieces and Nephews for Christmas. Not everyone in our class will celebrate Christmas but some may have Eid or Diwali and so on where gifts or money are exchanged.
The point is at certain points during the year there are times when the demand for certain goods or services are higher. This is known as a demand fluctuation or simply where the numbers of people willing and able to buy something change.
The winter season in the UK is an excellent example of where we might see demand for certain products go up. Today your task is the following"
Task 1
Find a definition on this website for seasonal demand
Task 2
List some of the gifts you may have received over the winter break or at other important times in the year. Why were they given at this time of year?
Task 3
Explain why demand changes depending on culture, customers or even the weather.
Task 4
Give some examples of other products or services which will change depending upon the time of year.
Task 1
ReplyDeleteSeasonal demand
Supply of manufactured goods and services is little affected by seasonal factors. But demand for these goods is subject to seasonal fluctuation.
In some cases it can be explained in terms of culture and customs e.g. religious festivals.
In other cases the seasonality can be explained in terms of the weather.
Obvious examples of products with highly seasonal demand include:
• Christmas cards
• Valentine cards
• Easter eggs
• Fireworks
• Sun lotion
• Overcoats
• Swimwear
• College textbooks
• Holidays
• Winter clothes
• Summer clothes
• Back to school clothes
Task 2
Over the winter holidays for Christmas I got jewelry, perfume, make up and some money and for my birthday which is 6 days after Christmas, I got more money, clothes, a bad, more jewelry, cosmetics and sunglasses. They were given on my birthday because on birthdays people give the person who was born that day presents if they are close to them. On Christmas people give presents because its the time of the year to exchange gifts with friends and family or in kids' cases, 'Santa' brings them gifts.
Task 3+4
Demand changes depending on customers because certain products are 'in' with certain people. Lately, the most 'in' products are Apple products such as iPhone's, MacBook's and so on and they are most wanted by teenagers for their birthdays/Christmas/Eid/ or any other holidays they have that include getting presents. Demand also changes depending on weather, for example; umbrellas. During winter or any other rainy weather the demand on umbrellas will go up, it is the same with coats, boots, or holiday type jumpers. Its the same logic during summer when people buy the new 'in' bikinis, skirts, dress' sunglasses and so on.
Good work Buse! What is a bad? and also are you saying Santa is not real?
DeleteExcellent explanation of why demand fluctuates for different reasons!
Seasonal Demand:
ReplyDeleteSupply of manufactured goods and services is little affected by seasonal factors. But demand for these goods is subject to seasonal fluctuation. In some cases it can be explained in terms of culture and customs e.g. religious festivals.In other cases the seasonality can be explained in terms of the weather.
Obvious examples of products with highly seasonal demand include:
Christmas cards, Valentine cards, Easter eggs, Fireworks, Sun lotion, Overcoats, Swimwear.
Task 2+3:
For Christmas this year, I received clothes, make up, glasses, vouchers, soap, jewelry, bikini, perfume.These were given at this time of the year because during the time of Christmas, we all exchange presents and it is a custom to do so and thus the presents were affected by culture. Sometimes presents can be affected by customers because certain products are "in", such as blackberry's! Most teenagers own one or if they don't they ask for them for Christmas because its very popular as its easy to message your friends with and is also cost free! Weather can also affect this because if you live somewhere cold, you might receive festive Christmas jumpers because not only do they add holiday spirit but they keep you warm.
Task 4:
Certain products popularity will fluctuate during the year depending on certain events. An example of this would be during Christmas, many Christmas cards are bought to wish people a merry Christmas, this displays seasonal demand because Christmas cards are only popular during the Christmas season.Although during the year these cards aren't sold, during the Christmas period there is a high demand for them!
• What is seasonal demand?
ReplyDelete• Supply of manufactured goods and services is little affected by seasonal factors. But demand for these goods is subject to seasonal fluctuation. In some cases it can be explained in terms of culture and customs e.g. religious festivals. In other cases the seasonality can be explained in terms of the weather.
• Obvious examples of products with highly seasonal demand include:
• Christmas cards, Valentine cards, Easter eggs, Fireworks , Sun lotion, Overcoats, Swimwear, College textbooks, Holidays, Winter clothes, Summer clothes, Back to school clothes
• List some of the gifts you may have received over the winter break or at other important times in the year. Why were they given at this time of year?
• For Christmas i received clothes, iPod touch, shoes, makeup, perfume, bikinis, and lots of chocolate. I received this because Christmas is a celebratory period during the year and its a seasonal celebration where we buy each other gifts.
• Demand for certain things can change depending on culture, customers and even weather. Culture effects this because different cultures celebrate different things e.g. Christmas, therefore gifts are high on demand at different periods of the year. Customers can effect this as well because if something becomes 'in fashion' customer rates will increase, not only for things such as clothes and items, but also for visiting places and countries on vacation. Weather can also effect demand change because if the weather has a downturn (more rainy and stormy) the rates of buying umbrellas in shops will increase, probably because it is a necessity.
• Give some examples of other products or services which will change depending upon the time of year
• The time of year will effect the demand changes as well. If it was a seasonal celebration like Christmas or new years or Easter, specialized cards are bought for the occasion, therefore during that time period, the products buying rates will in increase immensely, however when the season is over it will decrease again.
Hi Emilie
DeleteBe careful with the difference between effect and affect. e.g. "The time of year will effect the demand" it should be affect demand.
You have clearly understood factors which may cause dmeand to fluctuate aside from just the seasons.
Task 4: (sorry its first) Seasonal demand of.... AC repair calls (in Dubai)
ReplyDelete+= in summer (in Dubai) ACs break allot. therefore, the demand for AC repair crews must increase as well. the AC unit works by decreasing the temperature in the room through chilled pipes, cooling the air. when the heat goes up (in summer) the AC cannot cope, and dies. this means that more people will need AC repair crews, so more money will be made at this time, because more crews are being called out.
this also means that people are using their ACs more, so the profits for electricity bills will increase.
Task 1: seasonal demand is the change (increase or decrease) in demand for a certain range of product(s)
Task 2: I got an iPad for Xmas, and an iPod for my Birthday (last year). I goth these because 1: I asked for them and; 2: because it was Xmas/My B-Day, so they were gifts.
Task 3: some cultures will/will not buy certain products at high points in the year, because of (mainly) religious reasons, so (in Dubai) only ex-pats will buy Xmas decorations, the same as Halloween decor, Easter, and other christian festivals.
By Robert Jex
Good work here Robert on the AC chiller costs I never considered this myself until you mentioned it. Great time of year for electricity companies during the summer months in Dubai!
DeleteConsider other causes for demand fluctuating.
ReplyDeleteSeasonal demand
Supply of manufactured goods and services is little affected by seasonal factors. But demand for these goods is subject to seasonal fluctuation.
In some cases it can be explained in terms of culture and customs e.g. religious festivals.
In other cases the seasonality can be explained in terms of the weather.
i would receive a i pad 4 and some clothes for some events like Christmas and my birthday, some times i get some things that i ask for like some PS3 games and some some other things that i want.
in some cultures you receive what is right to receive and what your parents think it right for you to get, e.g. dewali you would get a red wrist band from your sisters and you would need to pay them 10 pounds. in different seasons like in the USA when there is a tornado season the umbrellas increase in sales and more food gets consumed more because more people satay at home so they eat more and go out less because of the cause of the tornadoes.
Task 1:
ReplyDeleteSeasonal demand is when the interest in a product or item rises over expectation due to the fact of the season. An example would be Christmas cards at Christmas time.
Task 2:
At Christmas I received a bundle of video games due to my interest. The gaming industry is a multi-billion industries and demand for games are high during winter and summer due to school holidays. Shops across the nation put up sales to distinguish themselves out of all the others. Another example of a seasonal demand would be airline tickets during summer and winter. This period of time is when people are relieved from their jobs and take their families on a holiday. Due to the demand of families wanting to go traveling, airline business raise their prices to gain more profits of these annual demands but this could raise problems such as families not wanting to go on this airline due to the fact other airlines providing cheaper flights. Some airlines try and play it safe by keeping their prices constant or having raises and declines in costs and different prices on different days. This lowers their risks of not enough passengers choosing their airline over the large variety of others. Another factor airlines use are the airplane itself, an example would be an A320 while newer versions of the A320 is available such as an A321, A330 or A380. Passengers might spend that little more for the specific plane itself. Passengers might feel safer on a smaller plane such as an A320 than an A380 or Boeing 747.
Task 3:
Demand on a product changes due to the season, weather, culture or festival. This is because the need or wanting of the product or service during a season is sensible, or cultural festivals might be a tradition and a need to a person. An example would be an umbrella in the rainy season, a person needs it to stay dry so he goes out and buys one while in the summer he doesn't need the product to stay dry as it doesn't rain. Although due to climate change it still rains in the summer in certain countries.
Task 4:
Air cons are another product which demands changes due to the fact of the weather and electricians are in more demand of repairing them.
Seasonal Demand
ReplyDeleteSeasonality refers to fluctuations in output and sales related to the seasonal of the year.
For many (or even most products) there will be seasonal peaks and troughs in production and/or sales.
In some cases there will be fluctuations over the week or even within the working day but the time based fluctuation that produces the greatest problem concerns fluctuations related to seasons of the year.
Examples of Gifts
On Christmas when i was young i used to receive toys and Lego but now I don't. on Eid I do receive 500 AED which i use for whatever i want but i only spend 100 AED, so I can then save up for a new computer.
Increase in Demand:
Demand changes based on special events like Christmas were there is more demand for toys and other gifts for children and also Christmas cards , stockings and even Christmas trees.
The weather may also change demand as there may be more flights out of a country as they don\t want to be in a certain area or people can buy supplies to prepare for weather disasters such as hurricanes in the USA.
Services at different times of year may go up depending on the weather or the climate, example AC costs go up in summer times but also the cost of maintenance and fixing them also goes up in these times as it is the season.
I received an iPad Mini for Christmas like this one. Apple are clever when they release this popular tablet.
ReplyDeleteApple released this new tablet just before Christmas which is clever because there is a high demand for presents and this is a more affordable and new product from apple which has appealed to many customers.
I also received Xbox games which would have also been high in demand due to the massive competition and affordability of these products.
Demand changes depending on culture because wealthier countries can afford to buy the products but poorer countries cannot, for example a country like america would be vary high in demand for the latest goods because it is a rich country but country for example in Africa would be more focused on food and water. Another reason could be that the culture may not agree with the product, an example would be that the UAE is against company's like Skype due to the possible ways of it being misused.
ReplyDeleteSuper markets would have an increase in demand due people buying food and presents for each other.air lines would be another example because people are flying to see there families.
ReplyDeleteGross domestic product is a measure of a country's economic activity, namely of all the services and goods produced in a year
ReplyDeleteSlump is a term denoting a period of poor performance or inactivity in an economy, market or industry. In economic terms, a slump specifically refers to a recession, signaling a slow down of business activity.
Recession is a significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade. The technical indicator of a recession is two consecutive quarters of negative economic growth as measured by a country's gross domestic product (GDP).
Recovery is a period in a business cycle which follows after a recession, in which the GDP rises.
Boom is a period of rapid economic growth.
The business cycle is the four stages: slump, recession and recovery and the boom.