Lipstick sales in the Recession Thesis Example | Topics and Well Written Essays - 4250 words

Lipstick sales in the Recession - Thesis Example Women although consider lipstick an essential but purchase it as a luxury to give themselves satisfaction. The results of the research have been supported by economic theories of Keynes, the income effect, the lipstick index and the elasticity of income theories. The results defy the substitution effect and basic economic theory of demand and supply. An interesting point is that lipstick sales are being depended upon to assess recession however, the trend of buying lipstick is changing and women are substituting it for lip gloss. Thus the question arises as to how much can the lipstick index be relied upon or whether the theory should be revised to include a certain pool of cosmetics for the theory to be more dependable. Recession has the global market and the economic conditions are deteriorating both in the developed and developing countries. The unemployment rate is increasing and the purchasing power of consumers is shrinking (CBS News 2008). Consumers now have to make choices and switch to cheaper commodities. Most cannot afford to purchase the luxuries they could afford in pre-recession times. Thus the overall prices of all goods are increasing due to inflation and according to the law of economics the demand for all products should decrease (CBS News 2008). However, as per Keynes (2009) there are certain products whose demand and supply rises in recession which is against the economic law. Lipstick is one of these products as its demand rises with the recession and increase in prices. The research focuses on why the demand of lipstick rises even with the increase in prices. So much so, that the sales of lipstick are used to indicate the recession patterns and to know whether recession has set in or not. The greater the sales, the more the recession. In the makeup industry the lipstick index is ardently used to see the recession progress. At the same time, it is also

Tourism and the media Essay Example | Topics and Well Written Essays - 1000 words

Tourism and the media - Essay Example Tourism works unlike other industries in the fact that the industry depends a lot on the media for the success of the industry as a whole. The media is one of biggest drivers of tourism because the media serves the role of creating awareness about different places that are attractive for tourist to visit. The media influences tourism in a lot of ways. The role of media on tourism is a two-edge sword because the media can affect tourism in both a positive and negative way. One of the largest industries the media controls is the movie industry. A lot of movies showcase tourism spots indirectly in the plots of movies. Take for example the movie The Beach. This movie was filmed at one of the most beautiful beaches in the world. The movie was filmed on Thailand’s Maya Beach (Thailandlogue, 2011). After the movie was released the Maya Beach region received a huge influx of tourists due to the free promotion Maya Beach received. Movies are just one of many ways the media can influenc e tourism. There are television channels that are solely dedicated to promoting tourism worldwide. A channel that has done a great job promoting tourism is the Travel Channel. The purpose of the Travel Channel is to connect people to the power and joy of human journey that inspires, surprises, and entertain humans across the world (Travelchannel, 2011). The written press is another media channel that has lot of power and its actions influence tourism. Most national newspapers have a section dedicated to travel. The travel section of a newspaper showcases different tourism spots across the world. When people read and see pictures about different parts of the world they get motivated to save money in order to visit these places. There is valuable information in newspapers that can help tourism once they reach their destination. Information such as the current currency exchange rate and weather information can be obtained by reading a local newspaper. A lot of countries advertise thems elves through magazines. The efforts of the media play a vital role in the promotion of tourism. One of the most important aspects about tourism is that it promotes economic development. There are countries in the world such as many of the Caribbean inlands that are extremely dependent on tourism dollars to support their national economies. â€Å"Tourism is highly dependent on media reporting because the vast majority of travel decisions are made by people who have never seen the destination first hand themselves† (Un, 2007). The exposure the media can provide to a region can help generate tourism. One of the ways the media can help tourism as a whole is by teaching people about other cultures. Television programs can help people get accustomed to the idea of visiting a new location. For example the television series â€Å"Outsourced† produced by NBC showcases a cast of actors of Indian descent (Sidereel, 2011). Through the program people can learn about the culture of India which can help raise a person’s interest in visiting such a location. Another type of program that directly influences the tourism prospects of a country are documentaries. A documentary can be defined as media that presents a non-fictional story that incorporates music, pictures, video clips, emotion, camera angles, and lighting to enhance a story (Blogspot, 2007). When documentaries are used to showcase a country potential tourists get a chance to get an in-depth view a country. Documentaries