Written Commentary on Market Failure and Elasticity

Written coif Commentary N. 1Economic Commentary Number: SL Number 1 PracticeTitle of draw out: Nike, Adidas see golden opportunity in ChinaSource of extract: NewsweekDate of extract: 03/10/2007Date the commentary was written: 11/10/2007Section of the syllabus to which the commentary relates: Section 2.1Commentary Number 1 Practice ExtractNike, Adidas see golden opportunity in ChinaShoemakers have retentive battled for market, but Olympics raise the stakesThe capital of Red China Olympics are less than a year away and one of the hottest races shaping up is non among the athletes, but the companies that outfit them.

China is one of the largest emerging markets and a top focus for garbmakers fighting for market share. And as the 2008 Beijing Olympics approach, the intensity is reaching a new high.

The Beijing 2008 Games are set to be the greatest sporting event in modern Chinese history, said Paul Pi, head of market for Adidas in greater China.

Adidas is an official sponsor of the Olympics. In attachment to paying a reported $80 million for the sponsorship position, the connection has coordinated a marketing blitz that includes opening an bonnie of two stores a day in the country.

The German follow has declared the event will help put it in the No. 1 position in China by 2008, a coveted spot now held by shoe giant Nike.

Nike says China is poised to become its second-largest market in the world by 2009 after the U.S. The company has seen tremendous gains at that place; its first-quarter earnings reported in September show gross sales in China jumped 50 percent. And Nike executives say the company is increase its lead there.

The Chinese grocery store is the most exciting marketplace in the world, said Nike Brand President Charlie Denson.

Nike declined to discuss its Olympics marketing plan but says the Olympics is less about advertising than about...

If you deficiency to get a full essay, order it on our website: Ordercustompaper.com



If you want to get a full essay, wisit our page: write my paper