Demand and investment for jewellery at the time of economic crisis
| Název práce v češtině: | |
|---|---|
| Název v anglickém jazyce: | Demand and investment for jewellery at the time of economic crisis |
| Klíčová slova: | Elasticity of demand, luxury goods,investments,economic crises |
| Klíčová slova anglicky: | Elasticity of demand, luxury goods,investments,economic crises |
| Akademický rok vypsání: | 2014/2015 |
| Typ práce: | bakalářská práce |
| Jazyk práce: | angličtina |
| Ústav: | Institut ekonomických studií (23-IES) |
| Vedoucí / školitel: | doc. Ing. Tomáš Cahlík, CSc. |
| Řešitel: | skrytý - zadáno a potvrzeno stud. odd. |
| Datum přihlášení: | 10.10.2014 |
| Datum zadání: | 10.10.2014 |
| Datum a čas obhajoby: | 08.09.2015 00:00 |
| Místo konání obhajoby: | IES |
| Datum odevzdání elektronické podoby: | 30.07.2015 |
| Datum proběhlé obhajoby: | 08.09.2015 |
| Oponenti: | Mgr. Josef Brechler |
| Předběžná náplň práce |
| Topic Characteristics:
The consumer demand defines strategy and tactics of the organization of jewellery manufacture. The demand and its forecasting for short-term and long-term prospect is one of the major problems of marketing for the various organizations and firms. The demand size is influenced by price and non price factors which should be traced accurately on a constant basis by special departments of firms. During difficult times like times of economic crisis (oil crisis, Great Depression, Second World War) many investors try to preserve their assets and invest them into metals like gold or silver. That’s why in my work I will try to analyze the level of investment into gold and silver during crises. The concept of elasticity of demand has a direct bearing on the pricing policy of the companies. Therefore, considerable attention in this work is given to this economic category. In real life it is very difficult to obtain reliable and stable data on factors of cross elasticity to use it for pricing. I will try to analyze the price elasticity of jewels and see if it is low or high in most cases. Demand for luxury goods linearly depends on the personal income. The world economic crisis has brought a rise in prices for gold and falling incomes of the population. It has led consumers to switch demand in the market of jewellery in a direction of the goods of a lower price category. The requirement for jewellery from buyers in the conditions of crisis remains, however consumers in the majority cannot pay for it the same money, as before crisis. My research question is how the demand and investment for jewellery change at the time of economic crisis. In this work a number of the major factors will be identified which influence almost all buyers to get the jewellery. Hypotheses: 1. Economic crises caused income to fall; will it affect the demand for jewelry to fall? 2. How the investments to metals will be affected during economic crises 3. Since the economic crises, it must be true that even a small change in income would affect demand for luxury good a lot. Methodology: 1. Elasticity of demand for luxury goods 2. Functions of Tornkvist 3. Investment function Outline: Introduction Influence of the price on demand Influence of personal incomes of the population on demand Influence of crisis on demand on jewellery in Russia and other countries Conclusion Bibliography Core bibliography: 1.“RosBusinessConsulting” , Retail jewellery systems, Analytic rewiev, Moscow, 2010 2.O.O Zamkov, A.V. Tolstopetenko, U.M. Cheremnih , Mathematical methods in economics, Moscow , published by “Business and Service”,1999. 3.Nepsha V.I., Okoemov U.K., Svetkova N.V. Jewellery with diamonds: income and price elasticity of demand// Marketing in Russia and abroad.-2003.- — № 2 4. “Inventica”, Jewellery Russian Market, Marketing research, Moscow, 2007 5. http://www.gks.ru/bgd/free/B10_00/IssWWW.exe/Stg/d04/6-0.htm 6. http://www.humanities.edu.ru/db/msg/2320 7.Nepsha V.I., Okoemov U.K., Svetkova N.V. Jewellery with diamonds: valuation of price elasticity of demand on retail market in Japan// Marketing in Russia and abroad.-2004.- — № 2 8.http://www.gold.org/assets/file/pub_archive/pdf/what_are_commodities_0305.pdf 9.Nepsha V.I., Okoemov U.K., Svetkova N.V. Jewellery with diamonds: a unifactor model of retail market USA// Marketing in Russia and abroad.-2003.- — № 6 10.http://www.econfin.ru/rus/library/marketing/marketprice/index.php?8811 |
| Předběžná náplň práce v anglickém jazyce |
| Topic Characteristics:
The consumer demand defines strategy and tactics of the organization of jewellery manufacture. The demand and its forecasting for short-term and long-term prospect is one of the major problems of marketing for the various organizations and firms. The demand size is influenced by price and non price factors which should be traced accurately on a constant basis by special departments of firms. During difficult times like times of economic crisis (oil crisis, Great Depression, Second World War) many investors try to preserve their assets and invest them into metals like gold or silver. That’s why in my work I will try to analyze the level of investment into gold and silver during crises. The concept of elasticity of demand has a direct bearing on the pricing policy of the companies. Therefore, considerable attention in this work is given to this economic category. In real life it is very difficult to obtain reliable and stable data on factors of cross elasticity to use it for pricing. I will try to analyze the price elasticity of jewels and see if it is low or high in most cases. Demand for luxury goods linearly depends on the personal income. The world economic crisis has brought a rise in prices for gold and falling incomes of the population. It has led consumers to switch demand in the market of jewellery in a direction of the goods of a lower price category. The requirement for jewellery from buyers in the conditions of crisis remains, however consumers in the majority cannot pay for it the same money, as before crisis. My research question is how the demand and investment for jewellery change at the time of economic crisis. In this work a number of the major factors will be identified which influence almost all buyers to get the jewellery. Hypotheses: 1. Economic crises caused income to fall; will it affect the demand for jewelry to fall? 2. How the investments to metals will be affected during economic crises 3. Since the economic crises, it must be true that even a small change in income would affect demand for luxury good a lot. Methodology: 1. Elasticity of demand for luxury goods 2. Functions of Tornkvist 3. Investment function Outline: Introduction Influence of the price on demand Influence of personal incomes of the population on demand Influence of crisis on demand on jewellery in Russia and other countries Conclusion Bibliography Core bibliography: 1.“RosBusinessConsulting” , Retail jewellery systems, Analytic rewiev, Moscow, 2010 2.O.O Zamkov, A.V. Tolstopetenko, U.M. Cheremnih , Mathematical methods in economics, Moscow , published by “Business and Service”,1999. 3.Nepsha V.I., Okoemov U.K., Svetkova N.V. Jewellery with diamonds: income and price elasticity of demand// Marketing in Russia and abroad.-2003.- — № 2 4. “Inventica”, Jewellery Russian Market, Marketing research, Moscow, 2007 5. http://www.gks.ru/bgd/free/B10_00/IssWWW.exe/Stg/d04/6-0.htm 6. http://www.humanities.edu.ru/db/msg/2320 7.Nepsha V.I., Okoemov U.K., Svetkova N.V. Jewellery with diamonds: valuation of price elasticity of demand on retail market in Japan// Marketing in Russia and abroad.-2004.- — № 2 8.http://www.gold.org/assets/file/pub_archive/pdf/what_are_commodities_0305.pdf 9.Nepsha V.I., Okoemov U.K., Svetkova N.V. Jewellery with diamonds: a unifactor model of retail market USA// Marketing in Russia and abroad.-2003.- — № 6 10.http://www.econfin.ru/rus/library/marketing/marketprice/index.php?8811 |