Download INTRODUCTION of the Hula Hoop - Studious-Catz

INTRODUCTION of the Hula Hoop!
Monday and Tuesday
http://www.youtube.com/watch?v=upIMfHFgWtQ&NR=1
In 1958, Wham-O, Inc. began marketing the Hula Hoop in the United States. Sales of the Hula
Hoops sky-rocketed during the year, in the first months over 25 million were sold, within the
year over 100 million. Similarly today, Silly Bandz has taken off in sales since the summer of
2008. According to Robert J. Croak, founder of Brainchild Product the producer of Silly
Bandz, from a small warehouse in Toledo, Ohio has gone from shipping 20 to 1,500 boxes a
day.
In 1994, the film The Hudsucker Proxy portrays a fictionalized account of the demand for
Hula Hoops as they were introduced into the market.
Watch this clip from The Hudsucker Proxy and discuss how the supply and demand for Hula
Hoops interacted with prices.
(Try my Hula Hoops!)
The Hudsucker Movie Trailer
What happen when one child started to play with the Hula Hoop?
Why did the price go down for the Hula Hoops?
Why did the price go up for the Hula Hoops?
Would a toy company want to make a product that was at as reasonable price? Or would they
like to charge more a toy that is in demand?
________________
Asking your friends:
Of the “MUST HAVE” toys of the past:
1. Have you ever had any of these toys? Which ones?
2. Why did you like the special toy?
3. What toy did you have to have when you were a small child?
4. What toy or object do you really wish you could get now?
Q1- Have you every
had the toys shown
on Television?
Which one
Q2. Why did you
like that special toy?
Q3. What was the
toy you had to have
as a child?
Q4. What toy or
object do you really
wish you could buy
now? And why?
Class mate 1
Class mate 2
Class mate 3
Class mate 4
TASK
In this lesson, you will use the case studies of Hula Hoops and Silly Bandz to learn about the
concepts of supply, demand, price, equilibrium, surplus, and shortage. You will be defining
many concepts of supply and demand, surplus, shortage, and equilibrium. You will also draw,
label, and analyze many parts of graphs to (1) help you better understand the concepts, and (2)
in order to demonstrate your knowledge.
PROCESS
In your readings you have the information for the concepts of the "Law of Supply" and the
"Law of Demand." The Law of Supply states that as the price of a good or service that
producers are willing and able to offer for sale during a certain time period rises (or falls), the
quantity of that good or service supplied rises (or falls). The Law of Demand states as the
price of a good or service that consumers are willing and able to buy during a certain time
period rises (or falls), the quantity of that good or service demanded falls (or rises).
The concepts of equilibrium price, surplus, and shortage. Equilibrium is the price at which the
quantity demanded by buyers equals the quantity supplied by sellers; also called the marketclearing price. A surplus is the situation that results when the quantity supplied of a product
exceeds the quantity demanded. This generally happens because the price of the product is
above the market equilibrium price. The situation that results when the quantity demanded for
a product exceeds the quantity supplied. This generally happens because the price of the
product is below the market equilibrium price.
The demand curve for Hula Hoops changed from the introduction of the Hula Hoops into the
marketplace to the height of their popularity in 1958.
Supply and Demand Graph
The four basic laws of supply and demand are:
1. If demand increases and supply remains unchanged, then it leads to higher equilibrium
price and quantity.
2. If demand decreases and supply remains unchanged, then it leads to lower equilibrium
price and quantity.
3. If supply increases and demand remains unchanged, then it leads to lower equilibrium
price and higher quantity.
4. If supply decreases and demand remains unchanged, then it leads to higher price and
lower quantity.
CONCLUSION
The laws of supply and demand can be used to show the relationship between producers and
consumers. Prices are used in the market to help producers and consumers communicate with
one another. The value-scales of producers and consumers are coordinated through the price
system. If the supply of a product matches the demand for the product, the price is said to be at
equilibrium and the quantity supplied will match the quantity demanded. If the price of a
product is too high, supply will exceed the demand and there will be a surplus of goods or
services. If the price of a product is too low, demand will exceed supply and there will be a
shortage of goods or services.
The case studies for Hula Hoops and Silly Bandz exemplify how changes in demand for
consumer products can shift tremendously over short periods. The video clip the Hudsucker
Proxy provides an example of how prices are changed in response to demand. Prices will rise
or fall based on the supply and demand for goods or services. The change in demand for Hula
Hoops initially decreased the price due to a lack of demand. Subsequently, demand
skyrocketed for Hula Hoops and led to a large increase in the price level as consumers who
wanted to buy a Hula Hoop were willing and able to pay more for the toy. Today, we have
seen a similar rise in demand for Silly Bandz; however the price level for Silly Bandz has not
risen. Producers of Silly Bandz are sensitive to the idea of raising the price for their product;
part of their marketing strategy is that their toy is a cheap alternative to video games and other
children's toys that are more expensive. Given their unwillingness to raise prices, continued
excess demand can only be met by increasing the supply, which include substitute brands
entering the market and gathering market share.
ASSESSMENT ACTIVITY
Supply and Demand Questions Complete this form on a separate piece of paper.
Let’s read this together information:
Toy fads that turn into toy controversy have become an annual holiday tradition rivaling fruit cake.
So when this year's hot new toy, the Zhu Zhu Pet, seemed embroiled in a scandal all parental eyes
were glued to the Internet for updates.
Zhu Zhu Pets, the mechanical hamsters that zoom around on wheels, came under allegations from
the California based consumer group GoodGuide that they carried unsafe levels of heavy metals. But
the U.S. Consumer Product Safety Commission (CPSC) cleared the Zhu Zhu pets Dec. 7, saying
GoodGuide did not follow standardized testing criteria. GoodGuide later apologized for the incident.
The Zhu Zhu Pets scare appears to have a happy ending, but they briefly became another in a long
line of celebrity-status toys that have had caused parents to question their safety.
The following is a list --for parents and Santa alike -- of other popular toys that fell into controversy,
or even prompted a worldwide recall.
Magna-Man Magnetic Toy Figures: Could Get Stuck in a Stomach
Magna Man magnetic toys were like the boy's answer to Polly Pocket. Both figurines come embedded
with powerful magnets that add a new dimension to the fun.
Polly Pocket could be dragged around through her house with her magnet giving (presumably) little
girls the full illusion that Polly was standing on her own. Magna-Man magnetic toys made by MEGA
Brands could be even be disassembled and reassembled, magnetic body part by body part.
Courtesy Amazon.com
Some popular toys of Christmas past eventually fell into controversy, or even worldwide recalls.
But come March 2008, CPSC issued warnings that the Magna-Man "Futuristic Warrior" or "Ancient
Warrior" themed toys had magnets that could become dislodged and swallowed -- much like the
2006 recall of Polly Pocket toys.
"If things are held together as part of the toy or the game parents have to be really aware, especially
with magnets," said Dr. Garry Gardner, chair of chair of the American Academy of Pediatrics
committee on injury, violence and poison prevention. Gardner said magnets found in toys pose more
danger than the kind often found on a refrigerator.
"They're not just regular magnets, they're really strong magnets," he explained.
CPSC reported no injuries from the Magna-Man toys, but the government organization did receive
25 reports of magnets coming loose on items sold between 2005 and 2007.
"Magnets found by young children can be swallowed or aspirated. If more than one magnet is
swallowed, the magnets can attract each other and cause intestinal perforations or blockages, which
can be fatal," warned CPSC in the official recall.
Thomas the Train: Carried Lead
In 2007 the Thomas the Train sets reached fad status only for parents to discover some of the little
toy trains were hauling lead paint into their homes.
Thomas the Train had made a modern day comeback. Young audiences first say Thomas the Train
when he appeared as Thomas the Tank Engine in the 1946 book by Rev. W. Awdry.
Awdry designed the toy train for his son and made up a story to go along with it that he eventually
published as a series of books. The entire collection of railroad-themed books became internationally
popular.
Although Awdry's book series stopped, the classic toy trains never went away. By the 2000s, Thomas
and his friends soared to new popularity through TV, toy and Web site marketing.
Children may be fans, but not all toy experts were
In June 2007, parents learned that their kids' beloved toy train could actually hurt them. CPSC had
to recall two years worth of various Thomas the Train wooden vehicles and train accessories because
a manufacturing plant in China had used lead based paint.
"Kids can't understand chemicals. For young children there are all these questions they can't
understand --- 'why can't my parent' keep you safe? Why would someone make a toy that would hurt
me?' -- it makes the world a scary place," said Diane Levin, author of "The War Play Dilemma" and
professor of education at Wheelock College in Boston, Mass.
Poison experts say the amount of lead a child could ingest from chewing on a toy train and
swallowing paint flakes wouldn't cause many symptoms. But that doesn't mean it wouldn't cause an
effect. If a child ingested a high amount of lead, he or she may have irritability, stomach problems or
even go into a coma, according to Dr. Marsha Ford, director of the Carolinas Poison Center at
Carolinas medical center in Charlotte.
In the case of a small train with lead paint, "What I think would be more of a concern would be not
noticing that the child was exposed and then having a negative impact on the child's intellectual
abilities," said Ford.
Aqua Dots or Bindeez: Toy that Turned into Date Rape Drug
Before news broke about Aqua Dot (also marketed as Bindeez) chemical problems, the toy was on its
way to becoming an international best- seller.
Children could take the tiny beads or dots and place them along a pattern -- perhaps a mermaid or a
dog. Add a little water, and the dots would fuse together into a toy.
But the manufacturing plant, allegedly trying to cut cost, left a few children fighting for their lives in
November 2007. Ford's clinic saw one of two children known to have fallen seriously ill in the U.S.
from swallowing the tiny dots.
"This little boy, about 3-years- old, he ate a bunch of these dots and he went down (lost mental
capabilities). He became almost comatose," said Ford. "He was brought into the hospital and he had
to be incubated. At some point he threw up about 100 of these dots, but nobody could figure out why
they had made him almost comatose."
But eventually Ford said, scientists in Australia had discovered a cheap substitute had been used in
making the toy. Instead of the plasticizer, 1,5-pentanediol, the factory substituted 1,4-butanediol,
which is derived from butane.
"When it goes into the body, it is converted into GHB (gamma hydroxybutyric acid) which is a date
rape drug," she said. According to CPSC, "Children who swallow the beads can become comatose,
develop respiratory depression, or have seizures."
Luckily, both children who fell in the United States recovered and a recall was issued in November
2007.
Cabbage Patch Snacktime Kids: Eating Your Child's Hair
Far beyond one year's fad, the Cabbage Patch Kids dolls have reigned supreme since 1983, and hold
strong even today. But an innovative twist to the popular doll line in 1997 landed toy maker Mattel
Inc. in trouble.
The Cabbage Patch Kids Snacktime Kids doll was a mechanical upgrade of sorts -- a doll that could
give the illusion of eating.
The doll came with plastic carrots, plastic bananas and a motor inside the doll's head. When a child
shoved a plastic carrot into the doll's mouth, rollers started that imitated chew motions, grabbed the
carrot into the doll and deposited it out through the doll's back into a backpack.
Trouble came when 7-year-old girl in Connecticut got her hair caught in the doll's mouth. The doll
began eating her hair and would not let go until rescue workers arrived, according to a report in the
New York Times. Other children had their fingers trapped by the doll that kept munching and would
not let go.
After selling 500,000 dolls in a single year, Mattel and CPSC issued a voluntary recall and refund of
$40 for the ravenous dolls.
"We recognize that these incidents can be upsetting to children and adults, and we are pleased with
the actions being taken by Mattel," said Ann Brown, CPSC Chairman at the time.
Slap Bracelets, or Slit Wrists?
The famous slap bracelets of the 1990s didn't need holiday shopping to become a fad. The bracelets
consisted of a metal ribbon covered by fabric -- often covered in '90s-inspired neon colored design. A
child could stretch out the metal ribbon into a flat rectangle give it a tap on the wrist and it would
snap and coil into a bracelet.
The original Slap Bracelets were marketed under the Slap Wraps brand, and reportedly invented by
a high-school shop teacher from Sun Prairie, Wis. in 1983.
Countless copy cats followed with various, cheaper designs, until reports starting coming in of some
children unintentionally cutting their wrists when they "slapped," the wrist bands on.
Schools across the country banned them, and the Consumer Product Safety Commission issued a
general warning on the bracelets by Oct. 1990.
While newsworthy, Gardner said such toy hazards are far less common than the usually more
problematic toys.
"Choking is the big thing. Magnets are big, projectiles are big," said Gardner.
"But I think the main concern is choking and that small pieces can't come out of the toy," said
Gardner. "The rule of thumb is if people picture a toilet paper tube and if a toy or apiece will fit
through the tube, then it's too small. That's a fairly big size. If it passes all the way through it is a
choking hazard.
Student’s opinion:
You and your classmates will be writing down their opinion about the problems with
children’s toys.
Each student must write down their opinion, which you will share with the class.
Students Name
1.
2.
3.
4.
What is your opinion? How do you feel about unsafe toys? How does this affect sales?