McDonald’s customers are more reluctant to add fries to their order, grocery shoppers are less willing to swallow the elevated price of Unilever mayonnaise and Target customers are balking at some high-priced items.
Click here to read the story at abcnews.com.
Discussion Questions:
- What is pricing?
- Why is it an important function of marketing?
- What are goods and services?
- What factors influence the price of consumer goods and services?
- What is inflation?
- What causes inflation?
- How does inflation impact consumers?
- Who is the Federal Reserve?
- According to this story, what has the Federal Reserve done to try to ease the pressure of inflation?
- According to this story, how are consumers responding to higher prices on some goods and services?
- Which goods and services are being impacted most?
- Why do you think that might be?
- Do you think consumers are pushing back on prices on all goods and services?
- Why or why not?
- How do you think businesses and brands might respond to consumer reluctance over those items? Be prepared to discuss your answers in class.