Supply Demand Super Bowl Sunday
On January 30, millions of televisions will be tuned in to the American Broadcast Company's live coverage of the Super Bowl. The three hour-plus event draws as many as 130 million viewers at one time. According to NFL Research, sixty eight percent of Super Bowl viewers say they pay attention to the commercials and fifty two percent said they discussed the ads the next day. With so many people watching the event, businesses see the Super Bowl as a golden opportunity to lure in profits by utilizing the commercial air time available. Due to the
Companies will dish out millions of dollars for 30-second blocks of air time. Scarcity is a condition that exists because society has unlimited wants and needs, but there are limited resources for their satisfaction. The commercials are also quite expensive because of the limited quantity. Why does it cost so much money? Commercials during the Super Bowl are very powerful means of advertising. Another economic principle, called investment, is exemplified in this article. unlimited wants and limited resources, an economic condition called scarcity results. Companies can appeal to a larger audience by advertising during an event that is widely watched among all different groups. That money invested in advertising, however, should return much more than that which was invested. The commercial air time during the Super Bowl is such a valuable commodity, that although it costs millions of dollars, those who invest in this form of advertising believe they will make a much greater profit in return. Advertising during the Super Bowl is a very smart investment. Does this apply to the Super Bowl? Yes. com/sections/business/dailynews/superbowl_netads_000113. 380 WordsBibliography Catherine Valenti, (January 16,2000), War of the Web Sites, ABCNEWS. Some companies may even purchase more than that.
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