Monday, May 27, 2013

Growing a beard can solve your financial problems!

Good morning economists! I think I speak for everyone when I argue that I am pretty much fed up with all the advertising media and the largely unimaginable attempts to sell products or services. The same old billboards, the same old ads on TV and radio.

A couple of marketing companies have attempted to revolutionize the way that products are advertised by paying individuals to tattoo an ad or a web link on different parts of their body.

The problem with this approach of course is that not a lot of people will be prepared to sacrifice their skin (literally) for the sake of advertising a product no matter the monetary compensation. In other words the opportunity cost of tattooing a marketing ad is quite high and thus the compensation must also be high.

A company in the US, however, came up with another way to market products. The company is prepared to pay $5 per day to anyone who is willing to wear a mini advertising billboard on his beard. 

The idea is quite interesting as all it takes for someone to make money is to grow a beard. And since a beard is not permanent, the opportunity cost and hence the monetary compensation is only $5 per day or $150 per month. A sense a new type of company in the works..."Rent a beard"! Kind of sexist though as the market excludes females.

Have a great day!

1 comment:

  1. Great Article, Just when you think you've seen everything. It would not surprise me to see a woman glue on a fake beard to try it out. That would certainly attract more attention to the ad don't you think? Let's see how long it takes for the first woman to try it out.