Factors Affect Supply and Demand of Acuvue Essay Example for Free

Factors Affect Supply and Demand of Acuvue Essay This report’s focus is on analyzing the factors that affect the supply and demand of the products. There are several variables that can affect the supply and demand of a product, including consumers’ income, prices of substitute products, costs of inputs and so on. The product discussed for this report is Acuvue, I will analysis how the factors affect the supply and demand of Acuvue. Acuvue is Johnson Johnson’s Vision Care Product. It is one of the most popular eye contact lenses products for nearsighted correction and eye color alteration. Acuvue has a serial of products that depend on different replacement schedule, such as daily disposable, two weeks disposable, colors and so on. All ranges of the lenses of Johnson Johnson’s are regarded as comfortable, convenient and good eye health product. (Johnson Johnson, 2008 )1 In 2007, as a leader and pioneer of eye contact lens producer, there was a sales increase by 17. 6% prior to 2006. The annual expense for normal glasses is $200 dollars but the Acuvue daily disposable is about $480. Take China for example, the GDP of 2007 increased 11. 4% (Wiki, 2008)1, people earned more than before. When people’s income increased, those who could not afford to buy the Acuvue in the past can had enough money to afford it. Moreover, as income increased, people tend to replace their contact lenses much more frequently than before, and the demand of Acuvue increased accordingly. Also, nearsighted people may have much higher requirement for their life quality; so, for those who are tired of wearing glasses or who seek convenience by wearing eye contacts may try to change to use eye contact lenses, therefore, demand for the eye contact lenses will increase. Consumer Preferences Consumer preference is a significant factor which affects the demand of the Acuvue. People have different preference for lenses for nearsightedness correction, such as replacement schedule, material (hard/ soft), and safety. Some people prefer Acuvue Daily for its convenience, and it has no daily maintenance like other types of contact; the user can just throw it away after one day. (Bausch Lomb, 2008) For some people, they prefer soft contact lenses to hard lenses. In addition, many people care about the safety of eye contact lenses, and daily contact lenses are regarded as the safest and healthiest way, so those people may choose the Acuvue Daily, and thus, the demand of the Acuvue increases. On the contrary, people who are afraid of getting keratitis (wiki, 2008)2 by wearing contacts will buy the glass, and then the demand of the Acuvue will decrease. Moreover, if the nearsightedness’ preference is more favorable to Acuvue, which probably means they have more loyalty to the products, so the existing consumers will seldom change to alternatives and more and more people will buy Acuvue. Price of Substitutes The Substitutes of Acuvue eye contact lenses are glasses and surgery. As compared before, wearing glasses is a more economical way to correct nearsightedness, and there will be lower risk of being involved in keratitis(wiki,2008)2 or other eye problems. Moreover, in the recent years, correcting nearsightedness by taking an eye operation became more popular in many countries. The costs for the surgery are high, and the average for getting the LASIK nearsightedness correction surgery is $2105 in 2008. (All about Vision, 2008) If the price of the surgery decreases, there will be more people choosing eye surgery instead of wearing inconvenient glasses or eye contact lenses; so, there will be less demand of Acuvue. Price of Complementary Goods If the complementary goods of Acuvue increase, the price of the Acuvue will increase accordingly. Complementary goods for Acuvue are the solution of the eye contact lenses or drops for eyes. For the past two years, with the rapid economic growth in China, people have more money to purchase eye contact lens, but if the average prices of the solutions increased dramatically, people who could afford to buy the lenses felt burdened to buy the solution. Advertising Promotion Advertising is a way of communication, Johnson Johnson get more advertising is to try to persuade potential customers and consumer to purchase more Acuvue(wiki, 2008)3. Johnson Johnson has released a series of advisements and promotions for Acuvue. They provide free trial pairs of eye contact lens for the potential consumers who can just fill a Free Trial Pair Certificate (Vision Care Inc. , 2008) from the Acuvue official website. In addition, when the â€Å"Acuvue 2 colours† entered the mainland China market, they chose an unknown model to perform the advertisement first, and the sales for the Acuvue 2 was unfavourable. However, then the Johnson Johnson invite Chinese pop singer Angela Zhang for promotion on TV, then, this product became familiar with lots of youth in China, and more and more people known about the Acuvue and bought it. Consumer Expectations Johnson Johnson is a well known and trusted company by millions of consumers all around the world. It pays much attention to the safety of their products. So consumers are confident with the Acuvue and more and more people buy it. When the AMO Complete Moisture Plus Muti-Purpose Solution (Anapol Schwartz, 2008) was recalled in May, 2007, people were concerned about the eye safety. From that time, people tented to buy less and use less eye contact lens in order to avoid infection. Number of Buyers If there are more and more potential consumers of Acuvue, demand for Acuvue will increase. For recent years, more and more people in the world have access the computer, and they use computers much more frequently and longer than the past. People are more prone to get nearsightedness. From Johnson Johnson’s research, there are about 3 million new eye contact wearers in the US every year (Vision Care Inc. )2, so the number of potential buyers is increasing for consuming eye contact lenses year by year. In addition, with the development of technology, the material of contact lenses is getting better and safer, so more people will be confident with the eye-contact lenses so more potential buyers will buy the Acuvue, then the demand for buyers will increase. But if there is new technology that can take place of eye contacts lenses, the nearsighted may give up wearing contacts, so the number of potential buyers decrease which indicates the demand of Acuvue will decrease. Variables of Supply Costs of Inputs The world economy was very unstable since last year, and the price of raw materials kept on rising. Fortunately, there is no news about the raw material price fluctuation for eye contact lenses. If the price of storing contact lenses increases, the Acuvue’s producer Johnson Johnson must find ways to control the production costs. The company may choose to reduce the production volume of the product and wait for producing that good when the price goes down, therefore the supply of Acuvue will decrease. However when the materials for making the eye contact lenses decreases, Johnson Johnson will have more capacity to produce more eye contact lenses to increase its supply. Number of competitors The more competitors there are, the less the supply. Due to the property of the vision care industry, the requirement for entering this business field is fairly high. For the current market, there are four main producers and other several smaller producers which produce eye contact lenses. Johnson Johnson is the largest eye contact lens producer in the world, making sales of $2. billion around the world (Johnson Johnson, 2008) 3. In China, eye contact lens manufactures are increasing in the market, competition became fierce, raw material for making the contact lenses increased, and the market share became dilute, so although sales of Acuvue increase in China very year, the growth is not as large as expected. New Technology As we know Johnson Johnson Vision Care first introduced the soft dis posable eye contact lens for the world (Wiki, 2008), and this revolutionary product helped the Johnson Johnson opened a new product field and access to expand their market to over 50 countries in the world. If there is new cheaper material for producing Acuvue, Johnson and Johnson will be capable of producing more Acuvue by the same investment as in the past, which means the supply of the Acuvue will increase. However, in the future, with the development in technology, some existing materials for making eye contact lensse may have potential risks for our eyes. When the Johnson Johnson found that potential risks really do exist, in order to guarantee the product safety, they had to pay more for preventing the risks harmful to contacts wearer, or even reduce the supply of those products. Suppliers Expect that Future Sales Prices In recently years, there is a trend that more and more reports show that wearing daily disposable eye contact lens is much more comfortable, healthier and safer, because daily replacement lenses are healthier than other replacement schedule. With the expectation, the market for the Acuvue Daily disposable has much more potential than other Acuvue disposable lenses, and Johnson Johnson will decide to produce more Acuvue Daily in according with the potential increase of the demand for Acuvue. Conclusion To sum up, those variables discussed above with the supply and demand of Acuvue finally affect the price of the Acuvue. As we know, the market price is the equivalent of the supply and demand. It is determined by an â€Å"invisible hand’ of both supply and demand. Therefore, it is impossible for those factors discussed before to singly handedly affect the supply and demand, because the market is complex, all those variables together contributed to our market price.

William Shakespeares A Midsummer Nights Dream Essay -- Shakespeare M

William Shakespeare's A Midsummer Night's Dream Shakespeare, in his "A Midsummer Night’s Dream," uses his characters to cast a sense of derision over the use of the imagination. â€Å"The lunatic, the lover and the poet† are thrown together all on one line, and it is implied that the latter two are as crazy as the first. (Midsummer Night’s Dream, V.1.7) Despite this seeming scorn for plays and their ilk, Shakespeare is implementing a strong irony. Characters who scorn the imagination are no more than imaginings themselves – and, by this, Shakespeare is actually reinforcing a positive image of plays of the imagination. Theseus’s denial of imagination’s worth reads more as apophasis than as any true refutation. Even as he scorns the poet for giving â€Å"airy nothing/ A local habitation and a name,† he vividly conjures images through metaphor. (V.1.18) Indeed, he is no more than an imagining named by a poet himself – which lends the writing further depth on multiple levels. On Shakespeare’s level, Theseus as a character lends himself well to irony; he is a sort of Fool in disguise. His witty wordplay and flowing metaphors are backed by his confidence that â€Å"such shaping fantasies†¦[are] more than cool reason ever comprehends.† (V.1.5) Theseus considers himself a creature of cool reason – and thus enters the irony, for he disbelieves his own existence. Only some of the audience may have understood the irony. Shakespeare’s plays had a wide audience, and both nobles and ‘groundlings’ – that is, peasants – attended. The playwright’s humor had to keep all classes entertained; the nobles because they sponsored the theater (and increased his fame), and the groundlings because their rotten fruit would otherwise voice their displea... ...inforces the positive image of plays which Shakespeare wishes to portray; that is, it shows that plays do matter, whether or not you believe they can affect the world – just as, in the play, magic does have a hand, whether or not its subjects believe in it. To strengthen his message, Shakespeare draws parallels between the cynical ‘voice of reason,’ Theseus, and the nobles in his intended audience. Thus, said nobles might see how little good Theseus’s cynicism ultimately did him, and that, as he was wrong in disbelieving in the fairies’ power over the lovers, he might be wrong in disbelieving the worth of imagination and plays, and their power over the world of cool reason. Works Cited Shakespeare, William. Edited: Barbara A. Mowat and Paul Werstine. A Midsummer Night's Dream. Folger Shakespeare Library ed. New York: Washington Square Press Drama, 1993.

Gen 105: Final Project: Student Survival Guide

Axia’s educational resources have been a great help to me throughout this course. The three educational resources covered in this course was, Downloading files for use on your machine or portable device, Navigating the University Library, and Identifying key information within articles. Being able to download reading materials onto cell phones, and MP3 players, improves the quality of the educational experience. Axia College provides other technological tools as well, such as: audio appendixes, digital stories, and tutorials. I myself prefer the audio appendixes and digital stories because when I am able to hear things I seem to be able to learn and remember it better. I’m also able to write better notes, and do better on my assignments without having to keep looking back and searching through the reading materials. The University Library has also helped me a great deal during the course. I prefer using it over going to a traditional library because all I have to do is log onto my student website, click on the library tab, then click on the University Library tab, next all I have to do is type in a keyword to the subject I am looking for. The University Library also has a link so you can send a message to a librarian too. So in my opinion the University Library is better than a traditional library because it has all the same things without you having to leave your house. This course also taught me how to identify key information within articles. Look for different fonts, like bold, italic, or underlined words. Also, words that are different colors. Upholding Academic Honesty was something that I will use during my whole college experience. Three educational resources covered in this course are Understanding Axia’s academic honesty policy, Understanding consequences of plagiarism, and Avoiding plagiarism. To find Axia’s academic honest policy, go to the materials tab, and then click on polices at the left side of your screen. It basically states that the students and instructors all agree to use their own work and not to plagiarize. The consequences of plagiarism are pretty simple, you could fail the assignment and the course, get suspended, or even expelled from the University. Some ways to avoid plagiarism are: *Crediting Authors and Sources, you should make notes of your source as you go. *Know the difference between a quotation and a paraphrase. *Use a citation for an acceptable paraphrase. *Understand that a paper that consists primarily of quoted material from other sources is not considered an original work. *Understand that lifting material off the Internet is plagiarism. *Solicit Feedback. *Citing Sources. (Effective Writing Communicating Your Message. ) Setting and Achieving Goals is actually something that I thought I knew everything about, and wouldn’t be able to learn anything else. I was wrong! The three educational resources that were covered in this course were, identifying long-and short-term educational and career goals, How to reach goals despite obstacles, and how an Axia degree relates to goals. I knew what long-term goals meant and what my long-term goals were; and I also knew what short-term goals meant, and what mine were. Identifying both my long and short-term educational and career goals was pretty easy. My long-term educational goal is to graduate from University Of Phoenix with my Associates Degree in Psychology. My long-term career goal is to use my degree to be a drug councilor. My short-term educational goals are to do all my assignments and participation on time and post them on time each week. Reaching my goals despite obstacles is what I need to work on. I need to prioritize my goals. Anticipate any problems that may accrue, and make a list of things to do if those problems to arise so it doesn’t mess with me meeting my goal. Such as, me not doing well in a class for a couple weeks; then for the remainder of that class I will work extra hard, and make sure to bring my grade up. Managing Time Wisely is a topic I’m very glad we covered in this course. The three educational resources are balancing time between courses at Axia, Juggling school, work, and family responsibilities, and Prioritizing and avoiding time-wasters. I’m a single mother of a two year old little girl, so it can get very hectic at my house. Every time I get on the computer to log onto my student website she will jump right in the middle of my computer and me. I usually have to wait until she is asleep before I can do any work. That means I am up most of the time at 3:00AM and 4:00AM and get up with my daughter at 7:00AM or 8:00AM. It’s very hard! There was an activity that we did, it was Appendix F : Time Management Log. The log had from 6:00AM to 9:30PM down the first column, the second was labeled â€Å"Activities†, and the third â€Å"Comments/observations. This assignment really helped me a lot to see what I was spending my time on, and to figure out how I could change that. Fostering Reading Comprehension and Retention helped be able to read the materials faster, and understand it too. The two educational resources in this course was Using reading comprehension echniques for successful reading, and Using SQ3R and other study habits. Some reading comprehension techniques for successful reading are find somewhere to read that is quite and you won’t be distracted, make yourself concentrate on what your reading, look ahead in the reading to see what’s next, become emotionally involved with what your reading, and define your reading purpose. SQ3R really helped me with my reading as signments. Skim, Question, Read, Recite, Review. When I have to read something new I use SQ3R. It really helps me to remember and learn the material. Applying Personality and Learning Styles was a lesson I found very interesting. The three educational resources for this course was, Using your personality type for distance learning success, Developing your multiple intelligences, Relating to others who have different personality types and intelligences. My personality type was an organizer, and that helps me in distance learning because I keep everything for each class separate so it’s easier to find, I also keep an agenda with my assignments wrote down for each class, and two dry erase boards one for each class.

Hi-Ho Yo-Yo, Inc - 1085 Words

Running Head: HI-HO YO-YO INC. Case Study: Hi-Ho Yo-Yo, Inc. First Come First Serve (FCFS): This is a service policy that is based on attaining the customers or clients, in order to their arrival or request. It means that, the one who comes earlier would be given priority in the sequence of their arrival. FCFS discipline of service delivery does not take any other parameter into consideration like quantity, monetary value of the order, etc. If we select this method of delivery to our clients, we are bound to release the order in the sequence of date (Greasley, 2008). Shortest Processing Time (SPT): This process of scheduling is used for completion of work within the due date. This method emphasizes on processing with the job†¦show more content†¦We should adopt the policy of Backward Scheduling, while using this method, because the due date is given in this case and we are supposed to plan our work schedule, such that we can meet the commitments of due date. Critical Ratio Method: As we know that Critical Ratio method prioritize the work as per their significance, and take into consideration two critical factors, one when the work is required to be completed to meet the deadline and the second factor is how much time is required to complete the work. The use of this method for meeting the due date would lower the average work flow time, compared to First Come and First Serve method and Due Date method, but higher when compared to Shortest Processing Time. The average tardiness is lower than FMFS method and SPT method but higher than Due Date method. Recommendation After the analysis of all the four methods and evaluating their pros and cons of using them, we can find out that it would be wise to use Shortest Processing Time method. When we compare this method to other three methods, for meeting the commitments of our clients regarding due date, we can easily observe that this method is best suitable in present context. 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