Tuesday, May 28, 2013

A new market for positive pregnancy tests?

Good morning everyone! The secret to every success story in the business world involves the discovery of a new product, one which revolutionizes (most of the times) and redefines the industry. A great example of such a success story is Apple products during Steve Job's second run.

Now you do not have to be Steve Jobs to enjoy success, however, some bizarre products are being launched in the market lately maybe due to the economic desperation that overwhelms people during the economic recession.

One such product made an appearance on craigslist in Buffalo, New York.

 A woman is apparently selling her positive pregnancy tests. She maintains that ever since she became pregnant she has been asked many times for a positive pregnancy test. It is only natural to assume that deception is the aim of the potential buyer. I am really wondering how many positive pregnancy tests the woman will end up selling and how on earth she reached the decision to charge $25 for a test.

A couple of days ago I posted about a market (beard advertising) which excluded women. This time I guess the market described in this post excludes men...well, until they are shown the positive pregnancy test that is.

Have a great day!

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!