Dazzling Demand essays

Dazzling Demand essays According to Dan Looker and Rod Fee, in their February 2000 article entitled "Dazzling Demand," the consumer demand for beef is increasing. Probably written before the Mad Cow scare, this article shows that consumers are willing to pay more for quality beef. Whereas the pork and poultry markets had stolen some business from beef vendors, beef purchases and consumption rose in the years immediately preceding 2000. The authors of the article attribute some of that change to new health trends like high- protein diets. However, this increase in demand is also due to improved quality. More tender cuts of beef have become available, raising consumer awareness and stimulating buying. Improvements in beef industry technology have caused this increase in quality beef. Consumers are willing to pay more for a quality product, and beef is a good example. Because some beef can be labeled as "guaranteed tender," the prices of these cuts will increase. The law of supply and demand dictates that with a rise in demand for high quality comes a rise in prices. The high level of quality is therefore reflected in the price. However, consumers show their willingness to pay more for better beef. In fact, even when consumers of beef cannot tell the difference between the expensive and cheaper beef, they are still willing to pay more if the product is labeled as "guaranteed tender." Yet most consumers can tell the difference, and are willing to pay more for better meat. The labeling of the beef as "guaranteed tender" matters, which proves that advertising is important in stimulating demand. The increased demand for beef is also attributed to a good economy, and changes in perception of the health value of beef. High protein diets are becoming more popular, and beef can fit into a healthy lifestyle. Also, this article was written as people prepared for millennium parties, which ...