Few companies have been able to connect with their audience as well as Disney has. From its founding by brothers Walt and Roy Disney in 1923, the Disney brand has always been synonymous with trust, fun, and quality entertainment for the entire family. The Walt Disney Company has grown into the worldwide phenomenon that today includes theme parks, feature films, television networks, theatre productions, consumer products, and a growing online presence.
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Today, Disney consists of five business segments (Yezbick, 2021). For example, Studio Entertainment which creates films, recording labels, and theatrical performances, Parks and Resorts which focuses on Disneyâs 11 theme parks, cruise lines, and other travel-related assets, Consumer Products, which sells all Disney-branded products, Media Networks, which includes Disneyâs television networks such as ESPN, ABC, and the Disney Channel; and Interactive.
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Disney works hard to connect with its customers on many levels and through every single detail. For example, at Disney World, cast members or employees are trained to be assertively friendly and greet visitors by waving big Mickey Mouse hands, hand out maps to adults and stickers to kids, and clean up the park so diligently that it is difficult to find a piece of garbage anywhere. Disneyâs broad range of businesses allows the company to connect with its audience in multiple ways, efficiently and economically (Graham, 2021). Hannah Montana provides an excellent example. The company took a tween-targeted television show and moved it across several divisions to become a significant franchise for the company, including millions of CD sales, video games, popular consumer products, box office movies, concerts around the world, and ongoing live performances at international Disneyland resorts in Hong Kong, India, and Russia.
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Clorox disinfecting wipes is a good that I use a lot. Prior to COVID, I used the wipes daily. I kept some in my car, in the kitchen, and in each bathroom throughout the house. When COVID began to impact society, not only did the demand for Clorox wipes and other products like Lysol increase, so did the price. Three ways that lead to a shift in the supply curve are Increase demand for the product-Due to the limited knowledge of COVID in the beginning the people in society who already cleaned wanted to clean more and the people who never really cleaned that much began to clean out of fear. This naturally increased the demand for the product.
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Availability- A lot of products could not keep up with the demand that the pandemic created. Companies were not able to get there products on the shelf fast enough so consumers bought whatever alternative products that were available. The price of ethanol - With reduced demand, the price of ethanol took a substantial hit during the pandemic, reduced by as much as 30 cents per gallon in March and 22 cents per gallon in November. The volume and price resulted in a reduction of industry revenues by $3.8 billion to date. (Minesota, 2021)
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The effect on equilibrium price and quantity of each factor is the overall supply and demand for the wipes. As stated previously, the demand became extremely high for this product that was already popular. Clorox wipes and products like it were in high demand pre pandemic because of the convenience and ability to disinfect. When the pandemic hit this product became a need which increased the demand. The increase in price to keep up with the demand naturally cause society to begin to seek alternatives and generic brands. Even the search for other alternatives became a challenge because their demand naturally increased as well.
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The supply and demand curve moved when the price of the wipes increase, and the demand decreases. When the demand does not have the same impact and the price stays the same this would be documented as a shift as opposed to movement.