All industries have different types of items and services that they can offer their consumer. From there it is up to the consumer to choose what they like. Everyone has the right to purchase whatever item or product that best fits their preference. Customers are a vital component to businesses and their success. Customers are the ones who determine the longevity and progress of a business. What a customer needs are what prompts them to buy a certain product or service.
Do I believe that some industries are unfairly targeted? Absolutely, the alcohol industries are one of those industries that I believe is unfriendly targeted. They are judged and targeted based off the products they sale. Even though it is the consumer choice to purchase their products. These companies provide warning labels letting the customer know the side effects of their products. For many years alcohol advertising has been a thing of great controversy. Especially for teens who are under age drinkers. Should the alcohol companies be responsible to take care of people who get life threating illness caused by their products? Should they be held responsible for people who die behind using their products? In the alcohol industry someone must look out for the consumers and it is not the industries. Capitalism is an economic system where private entities own the factors of production (Amadeo 1). Capitalism gives industries the control to factor all their production, and they obtain their income from their ownership. Capitalism requires a free market economy to succeed (Amadeo 1). It distributes goods and services according to the laws of supply and demand (Amadeo 1).
The law of demand says that when demand increases for a particular product, price rises (Amadeo 1). When competitors realize they can make a higher profit, they increase production (Amadeo 1). The greater supply reduces prices to a level where only the best competitors remain (Amadeo 1). When alcohol manufactures make alcohol, they are very much ware of the drinking age. They must produce the product based off the laws that are set forward for them. Yes, they produce the product, but these companies are not the cashiers in the store selling the product. Under age drinking is a very big deal around the United States of America. Teens under 21 are getting ahold of liquor and they are putting their lives and the lives of others at risk. Is this an issue that needs to be addressed and everyday there is someone out there working on trying to correct this issue. Is it the company’s fault this is going on? No, it is not, and they should not have to take the full blame of the back lash with teenage drinking.
A company makes its products based off the supply and demand of its customer. Yes, I do believe it is possible for a company to cater to both its best interest and that of the consumer Conjointly. If, you want your business to thrive you have no other choice but to make it work in best interest of both. You must find out your demographics and who you are trying to cater to. Though each consumer has a unique set of criteria they use to make judgments about products, the practice of classifying consumers by characteristics (based on their demographics, interests, and other factors) into manageable groups, or market segments, is common (Kelley 2). It would be difficult to produce a product that would appeal to every consumer (Kelley 2). Hence, successful retailers tend to focus on those consumers who are most likely going to find their products appealing and purchase them (Kelley 2). As a company your consumer is the most important person and you must do whatever to do to cater to them (Kelley 2). Demographics describe who we are as individuals, for example: ethnicity, age/generation, gender, income, marital status, education, and homeownership (Kelley 2).
