For Term Paper #1 you are required to pick a product or service you use in your everyday life and describe the market for this product. Please make sure to address the following questions: 1. What factors influence the demand for this product? What factors influence the supply of this product? 2. How have these changes in supply and demand affected the equilibrium price of this product? 3. Do you anticipate any changes to the demand and/or supply of this product in the near future? If so, what is driving these changes?
Vaseline Brands as the Everyday Life Product Name Institute of Affiliation Date Vaseline as a Daily Product Vaseline is one of the most recognizable skincare brands in the world, gaining a strong customer base by focusing on the body moisturizing needs of consumers. The brand, founded in the 19th century and now currently by Unilever, encompasses a range of body moisturizing products, as well as other products such as lip therapy, deodorant and shower gels. The utilization of Vaseline is increasing across the world as time goes by, for instance, the global body care market was worth $11.7 billion in 2009, with Europe being the strongest market, at $4.8 billion in that year. Growth is forecast to be fairly small in the 2009 to 2013 period, with the US market forecast to have a compound annual growth rate of only 1.3%. Europe is seen to have the strongest re