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lectur13-page17 - Some ads try to steer you away from a...

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17 Therefore: Each consumer will choose from among varying alternatives (substitutes) based upon his/her personal preferences (degrees of want) and the associated prices of the alternatives (substitutes). Personal preferences or your “degrees of want.” What multi-billion dollar industry in the U.S. focuses on affecting your personal preferences or “degrees of want?” C’mon now, think. What are you exposed to virtually everyday? That’s right. The advertising industry. Constantly at work trying to raise your degree of want for one product or service versus another.
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Unformatted text preview: Some ads try to steer you away from a price while others try to focus on the price. Some ads even go as far as to relate the concept that you should not worry about the price because “you deserve it.” Giving yourself a “treat” may feel good today, but it won’t feel good all those months you are paying it off. So, please choose from among the varying alternatives based upon your personal preferences AND the associated prices of the alternatives you confront....
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