Issuu

Volume 2 Issue #4 December

Editors' note A message from Anvi Jain and Sieun Yeom (Leaders & Co-editors in Chief)

Economics and Business serve as fundamental disciplines that enable individuals to comprehend the world around them. Although we may not consciously realize it, we constantly make economic and business decisions, even regarding mundane matters such as what to have for lunch. Once, an economist Milton Friedman said, "There's no such thing as a free lunch," highlighting the economic problem of scarcity and its resultant opportunity cost. We aim to foster a better understanding of the world's relationship with Economics and Business and their impact on our daily lives. As the current directors of Economic Infusion, we have initiated Volume 2, in which we have been working alongside students who share our passion for Economics and Business. The articles featured in this magazine are a testament to our collective passion for Economics and Business, through which the students at Economic Infusion express their thoughts and emotions. By leading the group, working collaboratively, and sharing our perspectives, we can enhance our academic knowledge and gain valuable experiential learning.

Appreciation Thank you to all the contributing writers and editors! Vaibhav Shukla Kate Stewart Madhava Nurmawan Eunsong Yeom Thitirat Saithong Taehan Lee Akira Iwano Hyunsun Choi Nadia Gultati Yoo Rim Ryu

Departmental Managers Sieun Yeom Anvi Jain Buth Khuptanon Sungwon Park Endoo Chawandit

Table of Contents INTRODUCTION Editor's Note

Table of Contents

ECONOMICS

Subsidies on Electric Vehicles in Norway

EV the Transportation of the Next Generation

The Disaster of the ‘Butter Mountain’

What is Fast Fashion?

Dirty Gloves: The Corruption in Boxing

Price Discrimination in Thailand

Cigarettes or Vapes?

Women Equality Impact on Saudi’s Economy

Rise of a New Age by New Energy Revolution

National ATC Strike in France

BUSINESS Chanel's Marketing Strategy

Spotify’s Marketing Tactics

SUBSIDIES ON ELECTRIC VEHICLES IN NORWAY Vaibhav Shukla Norway's support for electric cars has been a hit, not just in the country but worldwide. Since the '90s, Norway's smart moves have changed how people think about cars and set an example for green tech, especially electric vehicles (EVs). Their perks for EVs are solid because they've made smart policies that evade taxes for Battery Electric Vehicles (BEVs). This makes EVs cheaper than regular cars as now you pay less through tax and plus cars overall are cheap as well. EV owners in Norway get some cool bonuses, like cheaper rides thanks to subsidies, access to special lanes, free parking and ferry rides, lower road taxes, toll exemptions, and tons of charging stations. A subsidy is an aid that financially lowers the price of goods/services that are considered merit goods - goods that are underproduced and underconsumed. All these perks and advantages make electric cars a better choice than the gas guzzlers, and it's made many parts of Norway really eco-friendly. The electric car trend is going strong worldwide, especially in places like Norway, where they're aiming for all new cars to be eco-friendly by 2025. China and the US are also monopolies in the electric vehicle (EV) game. The UK and France are planning to ban new petrol and diesel cars by 2040. But there's a catch. How long can these perks last? Norway's success is awesome, but people worry if these government incentives can keep going strong, like they have in the UK and China.

A Photo Shocasing Two Beautiful Electric Vehicles On The Icey Roads Of Norway.

A Photo Displaying Electric Cars Charging On The Gorgeously Norwegian Hills

The money side is tricky too. Often, the folks who benefit from these perks are richer households, which doesn't seem fair. Plus, shifting to electricity might create a negative impact on the government's cash flow from taxes they receive from the sales of fuels such as diesel and petrol that they use to invest in the infrastructure of Norway such as roads. Then there's the ethical stuff. Getting materials for EV batteries, like cobalt from Congo, has some dark sides. It brings up issues about how these resources are mined and the people who do the work, especially kids. The future of EVs is still up in the air, juggling between what people want and what the government can do. Even though EVs have positive social benefits - benefits that include both private benefits and positive externalities, they're not everyone's first choice. That's why governments step in with perks and rules to get more people on board. What's next? It depends on whether companies can make EVs cheaper and if countries can build more charging stations. Lowering prices increases demand and hence, this boosts the sales of electric vehicles. The more affordable the goods are for consumers, the more positive externalities will be casted upon the nation. Switching from gas to electric cars is a tough journey with lots of unknowns and challenges. It's all about finding a balance between being eco-friendly, affordable, and doing what's right. So, Norway's support for electric cars has been great, but the future of EVs worldwide needs a mix of market changes, advanced technologies, ethical choices, and government help to make a greener driving future. REFERENCE LINKS: 1. HTTPS://ALTERNATIVE-FUELS-OBSERVATORY.EC.EUROPA.EU/TRANSPORTMODE/ROAD/NORWAY/INCENTIVESLEGISLATIONS#:~:TEXT=THE%20SUBSIDY%20IS%20A%20MAXIMUM,OSLO%20CITY%20COUNCIL%2 C%202021). 2. HTTPS://THECONVERSATION.COM/ELECTRIC-VEHICLES-AS-AN-EXAMPLE-OF-A-MARKETFAILURE-111783

EV the transportation of the next generation Endoo Chawandit

As global warming being one of the biggest concerns in the modern world, the car production industry started developing electrical vehicles (EV) since the late 20th century with the aim to reduce the carbon emission into the atmosphere and therefore help lower the pollution that is a factor causing global warming. EV is a merit good which means it is beneficial to the individual and society as a whole but is underconsumed in a free market. It could be beneficial for individuals as it would reduce the cost the individual has to pay each time they fill up their petrol tank at the gas station and it would be beneficial for the society because EV creates less carbon emission and therefore less pollution that will damage the atmosphere. Since EV creates external benefits to the society, government would step in and use interventions to make sure these merit goods would not be underconsumed and end up causing a market failure. Such as in Thailand’s current case, the Thai government decided to provide subsidies for EV producers ranging from 50,000-100,000 baht per vehicle. (Limited) A subsidy is an amount of money paid by the government to producers to encourage the consumption and production of a good or service. (“ThinkIB: Students”)

Subsidies helps lower the firm’s production cost which allows firms to pass on their low costs to their consumer in the form of lower prices decreasing from P1 to P2 and increasing the supply. As prices would now be lower, the quantity demanded for the good will increase form Q1 to Q2. Subsidies are beneficial to both the consumer and producer: consumers will gain lower prices while the producers will achieve an increase in the quantity of good sold resulting in an increase in revenue and profit which could later be used for further investment into the business such as improving technology, investing new machineries or hiring more workers to increase the quantity of output.

Subsidies have been credited for the significant increase in the demand of EV this year. Within the first nine months of 2023, the total number of registrations pre-ordering EV rose up to 50,340 which was an increase of more than 7 times compared to the same period last year.(Limited) Furthermore, the newly appointed primer minister of Thailnd, Srettha Thavisin had also ordered state agencies to buy EVs to replace older vehicles, build more charging stations for EV nationwide and make insurance for EVs more affordable. This may give consumers an additional incentive to change to EV as beside from the now lower prices from the subsidies, they would also be receiving a lower cost for their car’s insurance and charging stations will be easily available to access making it convenient.

Bibliography Limited, Bangkok Post Public Company. “Scaled-down EV Subsidies Approved.” Bangkok Post, www.bangkokpost.com/business/motoring/2676103/scaled-down-ev-subsidies-approved. Accessed 22 Nov. 2023. “ThinkIB: Students.” Www.student.thinkib.net, www.student.thinkib.net/economics/page/33388/unit-271governments-in-markets-tax-and-subsidy-.

The Disaster of the ‘Butter Mountain’ Buth Khuptanon What are ‘butter mountains’? When first heard of this term, an image of soft, smooth butter and large, towering mountains may come across one’s mind. In fact, the term ‘butter mountain’ refers to the surplus in the supply of butter that took place in the European Union in the 1970s, which was so extreme that it was compared to the image of a mountain. In this article, I will discuss the events that led to this phenomenon. In the 1950s, a continuous decline in agricultural production added to public pressure, forcing governments of many nations to come up with solutions. As a result, the governments and representatives of the E.U at the time introduced the CAP -also known as the Common Agricultural Policy- to counter this situation. The CAP is a partnership between Europe and its farmers; it is a promise that the governments will support their farmers and ensure a stable food supply for their citizens (European Commission). However, this was the starting point of the disaster that was about to come. As part of the CAP, the governments introduced a minimum price on dairy products, with the promise that they will buy up the excess supply if it were to exceed demand to act as an incentive for farmers to increase their production. Just like that, the production of milk, grain, butter, and many other related products surged, and by the late 1970s, supply had already exceeded demand. Later, milk quotas were introduced to restrict the supply of the production of milk; however, milk production in West Germany alone had almost already doubled what it was in the 1960s. The governments were the ones that started this, and so they needed to bear the consequences even though it meant storing millions of tonnes of agricultural goods inside their offices(Wikipedia, 2023).

There were split views regarding this incident. While some find the government’s actions derisive, others think it was the best decision at the time, given the circumstances. Experts suggest that in the ideal world, the government’s plan makes sense: the minimum price would have guaranteed a stable income for farmers, which would incentivize them to continue supplying dairy products, just as the E.U would have hoped. However, the problem arises when the governments have to store these agricultural goods. Specifically, it is the problem of what they should do with it. If they kept it stored, then one day it would have gone wrong and gone to waste; if they released it into the market for people with low incomes, then the market price would have crashed, and everything would have gone in vain (Author links open overlay panelLeslie J. Reinhorn et al., 2006). Sadly, if the governments could have put the stockpiles to good use, then the CAP may have been known as one of the greatest government interventions ever. However, the truth remains that this policy was very wasteful - the ‘butter mountain’ was a symbol of that.

Bibliography European Commission (no date) CAP at a glance, Agriculture and rural development. Available at: https://agriculture.ec.europa.eu/common-agricultural-policy/cap-overview/capglance_en#:~:text=Launched%20in%201962%2C%20the%20EU’s,between%20Europe%20and%20its%20farme rs. (Accessed: 18 November 2023). Wikipedia (2023) Butter mountain, Wikipedia. Available at: https://en.wikipedia.org/wiki/Butter_mountain (Accessed: 18 November 2023). Author links open overlay panelLeslie J. Reinhorn et al. (2006) Butter mountains and wine lakes, Economics Letters. Available at: https://www.sciencedirect.com/science/article/abs/pii/S0165176506002266 (Accessed: 18 November 2023).

What is fast fashion? Kate Stewart It’s what we wear, in fact what you are wearing now as you read this article and what you decided to wear throughout the whole day. It could be something very trendy such as what you may have seen on TikTok - or something you have bought from a shop at your local mall, whether that be H&M, Zara, Shein, and other businesses. One of the main reasons that we call this fast fashion is because these brands come up, produce and launch new products every few weeks to stay in trend as they respond to a large market of consumers. Often, we wear clothes only for a few times before tossing them aside or buying new clothes as preferences changes, which is why it results in impact both economically and environmentally as more consumers want something new every season while it is good that they make rapid sales and marketing, it also creates a devastating effect on the environment. The economical impact of fashion industry In the past 20 years, the fashion industry has grown significantly and has gotten more competitive due to increasing development of technology: once, there were only two fashion seasons (summer and winter clothes), whereas nowadays we have larger number of 52 fashion micro-seasons which means there is a new collection of goods produced every week. The fashion industry has also been beneficial as it has creating created more than 300 million jobs world wide, jobs especially in low income countries where,

unfortunately labour is cheaper and therefore profit is bigger for businesses as a matter of fact a mere of 1% of major fashion brands tell us the number of workers in their supply chains being paid a living wage. It has also generated a large growth for the past 20 years. It's been responsible for the recent growth (on average 4.78%) and future growth of the apparel industry. Today the value of the fast fashion market globally is estimated to be worth over $106 billion (2022), and these figures are set to grow increasingly for the next following years, it is also expected to hit a market value of approximately. $185 billion by 2027, at a CAGR (compound annual growth rate) of 7.70%. Currently, Asia pacific is the biggest player and drive leading the growth of the fast fashion industry with a significant share of 34.50% in 2022 due to the rise in popularity in fast fashion among consumers with China as the biggest consumer followed by Japan then India. An expected 400 percent increase in world GDP by 2050 will mean even greater demand for clothing. This general growth in the fashion industry for the past years is majorly due to the increasing population of young people globally and the increasing demand for inexpensive fast fashion inclining towards trendy and affordable fashion promoted in many social platforms. According to the UN, in 2019, the young people population is around 1.2 billion of the world's population and is expected to increase by 7.9% to 1.3 billion by 2030. (According to yahoo).

Another factor for the growth of the fashion industry According to the Ellen McArthur Foundation, is driven by a growing middle-class population across the globe and increased per capita sales in developed economies. The environmental impact of the fashion industry More than USD 500 billion is lost each year due to a lack of reuse and recycling, as reported by the Ellen MacArthur Foundation (2017). The amount of money spent on fashion results in heaps and heaps of clothes, shoes and other accessories. Every year the fashion industry accounts for 1.7 billion tons of carbon dioxide emissions worldwide (this is equivalent to 140 years worth of Scotland’s total annual greenhouse gas emissions!) that is 6-8% of the total global carbon emissions per year. Interestingly, the fast fashion industry is second after the oil industry in releasing pollution and it produces 20% of the world’s wastewater. Part of this has to do with the prevalence of cotton in the disposable fashion industry, because cotton is one of the world’s thirstiest crops and it is sprayed with extremely unhealthy amounts of pesticides. According to ecowatch.com, it can take more than 5,000 gallons of water to manufacture a T-shirt and a pair of jeans. Despite all the damage and waste created by the fashion industry 88% of major fashion brands are still not disclosing their annual production volumes, obscuring the scale and truth of overproduction and 99% of brands do not disclose a commitment to reduce the number of new items they produce. Bibliography: Assoune, A. (2020, November 3). How does fast fashion affect the economy. Panaprium. https://www.panaprium.com/blogs/i/how-does-fast-fashion-affect-the-economy Assoune, A. (2021, October 28). Top 10 reasons why fast fashion is so popular. Panaprium. https://www.panaprium.com/blogs/i/fast-fashion-popular Chaudhary, A. (2022, February 27). UW Economics society. https://uweconsoc.com/the-economics-behind-fast-fashion/ The economic impact of the fashion industry in 2021. Fashinnovation. (2023, November 14). https://fashinnovation.nyc/the-economic-impact-of-the-fashion-industry/ Fashion transparency index 2023. FASHION TRANSPARENCY INDEX 2023 : Fashion Revolution. (n.d.). https://www.fashionrevolution.org/about/transparency/ Fast fashion - dumped in the desert: DW documentary. YouTube. (2022, May 31). https://youtu.be/QicSkPNx4Ho? si=dO6DsOCSkLjj2R3c Peatland Action Case Study: What’s the connection between peat and carbon storage? NatureScot. (n.d.). https://www.nature.scot/doc/peatland-action-case-study-whats-connection-between-peat-and-carbon-storage Research, I. E. (2023, September 16). Fast fashion market size 2023 , major companies, along with current and future outlook by 2030: 95 pages report. LinkedIn. https://www.linkedin.com/pulse/fast-fashion-market-size-2023-majorcompanies#:~:text=The%20global%20Fast%20Fashion%20market,3.1%25%20during%202022%2D228. Smith, P. (2023, December 4). Fast fashion market forecast worldwide 2021-2027. Statista. https://www.statista.com/statistics/1008241/fast-fashion-market-value-forecastworldwide/#:~:text=The%20value%20of%20the%20fast,approximately%20185%20billion%20U.S.%20dollars. The truth behind fast fashion - are fashion retailers honest with their customers?: DW Documentary. YouTube. (2021, October 19). https://youtu.be/23vUvQN-R1Y?si=KSMbENja4MJS4dge Yahoo! (n.d.). Fast fashion market size to hit USD 167.50 billion by 2030, driven by rising customer interest in stylish clothing, states Kings Research. Yahoo! Finance. https://finance.yahoo.com/news/fast-fashion-market-size-hit151900251.html

Dirty Gloves: The Corruption in Boxing

On October the 28th, 2023, boxing had become the laughingstock of the martial arts world. Despite it being an exhibition, nonetheless, it was impressive for fans of the sport all around the world to have seen what they did. The betting odds were -822 to Fury and +350 to Ngannou. To simplify what that means, Fury was a clear favourite as the world heavyweight champion, and with Ngannou in his debut, he was going to be the underdog. Fury may have won the match, but that was only according to the judges. The world had unanimously agreed upon who the true winner was. Now how did boxers go from some of the most respectable athletes, of the likes of Muhammad Ali and George Foreman, to absolute clowns? I believe it all came down to the downfall of promoters. Nowadays, promoters have prioritised creating narratives of being ‘undefeated’ at the cost of the best fighting the best. Why is that? It all traces back to a generational boxer, a man who goes by Floyd ‘Money’ Mayweather. The name Floyd Mayweather has become synonymous with ideas of winning and success, but more importantly, money. He has amassed an ever-growing fortune of $1.2 billion. If true, that would make him the fifth richest African American. In 1999, Floyd Mayweather turned down then-HBO executive Lou DiBella’s $16 million deal, and called it a “slave contract.” He then went on to proudly announce “I’m never going to lose. I’m going to make more money than any fighter in history.” And surely enough, those words came true. As an amateur, he was nicknamed ‘Pretty Boy’ due to the lack of cuts and bruises on his face whenever he finished a match. But something changed on the 15th of April 2007. On the debut of “24/7” (a television series that played highlights of the lead-up of Floyd’s fight against Oscar De La Hoya), he threw money at the camera and went on to become what we know him best as. Floyd ‘Money’ Mayweather.

When taking a look at this graph, the beginning of the huge boom in Floyd’s earnings began right at his ‘Money’ Mayweather era in 2007, despite already being an undefeated champion. What Floyd and the rest of the boxing world would come to learn is that big money comes when you use narratives and an undefeated streak. But if the best always fight the best, one of them will have to lose one day, so When taking a look at this graph, the beginning of the huge boom in Floyd’s earnings began right at his ‘Money’ Mayweather era in 2007, despite already being an undefeated champion. What Floyd and the rest of the boxing world would come to learn is that big money comes when you use narratives and an undefeated streak. But if the best always fight the best, one of them will have to lose one day, so how can one become undefeated? Well, that’s the problem with boxing. In a world where audiences all across the globe expect the best to clash against the very best, boxing’s empty pursuit for undefeated streaks has turn out to become the sport’s downfall. Boxers have picked and chosen their battles to craft the easiest road towards an undefeated record. From July 2022 to December 2022, there wasn’t such a thing as a match with 2 ranked boxers (being ranked means that the boxer is a top 10-15 contender for the world championship). One of them was always unranked. Why is this? This comes to the idea of jobbers, which is when boxers are paid to lose. Imagine fighting against someone when all they want to do is lose. It’s almost saddening as people like these were probably young, aspiring boxers who just didn’t have the natural capabilities. Having to turn to losing for money instead. There have been many notable jobbers in the scene sadly. For example, Kristian Laight with a record 279 losses. There is a greater chance of you catching long-term coronavirus than there is for him to win a match.

Boxers now fight solely for money and crafted records. They have brought shame to the sport. But if you really want to trace it back to the root problem though, it all comes down to promoters. A boxing promoter is a third-party entity that brings two fighters together and organizes the event. In 1906, Tex Rickard became the first promoter for a match between Joe Gans and Battling Nelson. Since then, boxing promoters have been seen as the villains of boxing. They have become more and more corrupt while becoming more and more complacent with the quality of their product. Fans have been up in arms about the sheer lack of care put into the final product. Another major issue is the corruption within sanctioning bodies. There are four major sanctioning bodies, the WBA (World Boxing Association), WBC (World Boxing Council), IBF (International Boxing Federation), and WBO (World Boxing Organisation). All 4 sanctioning body was founded to replace the other due to the mass corruption their predecessors would find themselves in. Ironically, they all turned out to be corrupt. The WBA was infamous for taking bribes as it was brought to light in a 1981 Sports Illustrated Article and again by the infamous Bob Arum who paid off officials to rig the rankings. Bob Arum has become notorious for bribing, as he pulled off this same stunt with another sanctioning body in the IBF. The WBO was sued for playing favourites as they would strip Graciano Rocchigiani of his title and attempt to give it back to an unretired Roy Jones. They would then file for Chapter 7 bankruptcy, where a trustee liquidates non-exempt assets to pay off any creditors while the remaining debt is discharged. The only requirements are that the debtor shouldn’t have filed for Chapter 7 bankruptcy within the last 8 years and that they must pass a means test (a test which determined the eligibility an entity had for receiving benefits or payment) . Engineering Professor Dr. Adam Tenant also cited in his paper ‘Complexity analysis in the sport of boxing’ that the WBO manipulated ranking rules to benefit business interests. One of the world’s most timeless and glorious sports has devolved into a circus where honour has been abandoned. The best no longer fight the best, most fighters lack that hunger for a tough, honourable win and the sheer corruption and greed within the business has brought the martial art edging closer and closer to its grave. The future of boxing is now out of the gloves of boxers and into the hands of money-hungry promoters and influencers.

Bibliography Yanofsky, D. (2023, October 23). Tyson Fury vs. Francis Ngannou fight date, start time, odds, Price & Card for 2023 Heavyweight Boxing Fight. Sporting News. https://www.sportingnews.com/us/boxing/new s/tyson-fury-vs-francis-ngannou-fight-datetime-odds-pricecard/4a8053939ebd8c58b2329248 Pickworth, W. (2023, October 28). Cristiano Ronaldo, Kanye West and Conor McGregor are among the famous faces in Saudi Arabia for Tyson Fury’s battle of the baddest fight against Francis Ngannou. Daily Mail Online. https://www.dailymail.co.uk/sport/boxing/arti cle-12683611/Cristiano-Ronaldo-MannyPacquiao-Conor-McGregor-Saudi-ArabiaTyson-Fury-Battle-Baddest-FrancisNgannou.html Salas-Rodriguez, I. (2020, September 25). Boxers with the worst records in history including one with 279 defeats. The Sun. https://www.thesun.co.uk/sport/12760973/wor st-boxers-most-defeats-ever/ Health Study, Z. (2020, October 21). One in 20 people likely to suffer from “long covid”, but who are they? ZOE COVID Study. https://health-study.zoe.com/post/long-covid Benson, M. (2021, August 20). Mayweather makes billionaire net worth claim, reveals McGregor, Pacquiao purses. talkSPORT. https://talksport.com/sport/boxing/876870/flo yd-mayweather-net-worth-manny-pacquiaoconormcgregor/#:~:text=Floyd%20explained%20th at%2C%20due%20to,reached%20that%20four %20years%20ago Williams, E. (2023, February 28). Who are the black billionaires?. ajc. https://www.ajc.com/news/atlanta-blackhistory/who-are-the-blackbillionaires/PRWODTCBXNHZLLSQTZOH U5Y3B4/

Pugmire, L. (2017, August 19). How Floyd Mayweather Jr. transformed from “pretty boy” to “money.” Los Angeles Times. https://www.latimes.com/sports/boxing/la-spmayweather-rise-20170819-story.html Shibu, N. (2023, April 23). Floyd Mayweather nickname: Why was the legendary boxer called “pretty boy”? FirstSportz. https://firstsportz.com/boxing-why-was-floydmayweather-called-pretty-boy/ Draper, A. (2021, April 3). Floyd Mayweather Career Earnings. The Sports Daily. https://thesportsdaily.com/news/floyd-mayweathercareer-earnings-fox11/ Cyre, C. (2021, July 2). This is How Much Money Floyd Mayweather Made from the Logan Paul Fight. Game Rant. https://gamerant.com/floyd-mayweathermoney-made-logan-paul-fight/ Boxing, P. (2015, March 7). Boxing fights 2022 - past fight highlights and full replays. PBC Boxing. https://www.premierboxingchampions.com/pastboxing-fights/2022 Tennant, A. (2017, November 29). Tennant lands blow against boxing ranking system he dubs corrupt. University of Southern Indiana. https://www.usi.edu/news/releases/2017/11/tennantlands-blow-against-boxing-ranking-system-he-dubscorrupt Nam, S. (2023, November 11). De La Hoya blasts IBF for stripping title from Terence Crawford. BoxingScene.com. https://www.boxingscene.com/dela-hoya-blasts-ibf-stripping-title-from-terencecrawford--179182 Press, A. (2004, June 13). WBC avoiding $31 million owed to fighter. ESPN. https://www.espn.com/sports/boxing/news/story? id=1821391 Kenton, W. (2022, March 28). Chapter 7 bankruptcy: What it is, how it works, ramifications. Investopedia. https://www.investopedia.com/terms/c/chapter7.asp

Is it fair for expats in Thailand to pay the tourist price?

By Yuni and Focus

Have you ever visited Thailand? If you have, you would be familiar with the concept of tourist price. As a foreigner, I have experienced a situation where the price for goods and services that I have to pay is higher than the normal price for Thai citizens. For example, if you want to visit a historical park, local Thais can pay around 20 baht while foreigners are made to pay double the price or more. It is understandable for tourists to pay more since they do not have residence and pay tax in Thailand, but how about the foreigners who have Thai citizenship and pay Thai tax through a Visa? The “tourist price” foreigners pay is called dual pricing. Dual pricing in tourism is when the price for a good or service is charged differently for a certain minority, in this case, foreigners in Thailand. For example, producers charge extra for tourists in Thailand because producers think they would not know the original price and agree to pay double, but the producers would charge original prices for local Thais. However, foreigners with Thai citizenship know this trick and would ask the producers to lower their prices. Nevertheless, the producers still make them pay double.

Dual pricing had started way back in the 60s when tourism was booming and foreigners started spending a great deal of money on goods and services in Thailand. In turn, it convinced producers to increase the pricing of their products to earn more profit and revenue.Although, it was banned in Thailand ever since the 70s, some producers still remain ignorant and continue to break the rules, which is whysome goods and services are still charged more for tourists and foreigners who have residence in Thailand. (Fey) As beneficial as it is for Thai producers to earn profits, it is absurd for foreigners to pay extra when they are contributing to Thailand already by paying tax. It’ll be better if the policy only allows charging extra for tourists rather than foreigners with Thai citizenship. Many local Thais themselves agree that the dual pricing system is ridiculous and is damaging the image of small businesses in Thailand.

You can’t deny that dual pricing isn’t a thing in Thailand given that it's a common practice for a lot of businesses in Thailand. There are many examples of this such as the Doi Inthanon National Park in Chiang Mai charging 50 baht for locals and 300 baht for foreigners. The park is charging six times more for foreigners which is absolutely insane. Another example is the Phu Hin Rong Kla National Park which is located in Loei, Phitsanulok and Phetchabun which charges foreigners 12 times more than the normal price of 40 baht for Thais. To make it worse, the Thai government is the one owning those National parks. They are going against their own law. (Limited, Foreigners take aim at dual pricing 2020) Dual pricing can happen anywhere and in any form. The most common scams foreigners fall for are the overpriced taxis and entrance fees for parks. A lot of foreigners and locals are aware of producers making things overpriced for foreigners yet the Thai government still isn't taking action. One of the reasons why the government might not be taking actions is because they want their producers to earn more profit and revenue. The Thai government in 2019 allowed Thai public hospitals to charge foreigners higher fees due to “newly implemented regulations”. This includes tourists and expats in Thailand. (Dual pricing at Thai public hospitals and the implications on foreigners 2023) In 2017 Kasetsart University Intercultural Communications Professor Rachawit Photiyarach did a study on dual pricing in Thailand. He says that there are 2 types of dual pricing: interpersonal and institutional. Institutional dual pricing is when a foreigner gets charged more than a local Thai for entrance fees in national parks, attractions, museums or zoos.

(Translation: entrance fee checkpoint. Child 10 baht, Adult 20 baht) (Thai hospitality sector speaks out against dual accommodation pricing 2022)

Interpersonal dual pricing, however, is when an independent seller charges different prices for the same goods or services. It is much more controversial since it feels personal and biassed. Interpersonal dual pricing happens when a local business decides to charge one ethnicity more than the other. The reason behind dual pricing is usually a stereotypical assumption that all foreigners are rich. Expats living in Thailand must earn a certain amount of wage each month to secure their work permit and the wages these expats receive are much more than what your typical Thai worker would get. However, for tourists, vendors would assume that they are rich since they can afford to come on vacation and would also surmise that they live a rich lifestyle. Nonetheless, both expats and tourists get charged more with a general assumption that they are rich which is not always the case. (Tuohy, Racism, anger and why dual pricing makes sense to Thai people 2017)

It is understandable for tourists to pay the tourist price considering they do not pay tax in Thailand, but the expats living in Thailand do pay tax. For an expat to pay the tourist price even if they have Thai citizenship has enraged a lot of foreigners. They see this as stereotypical and feel that they have the right to pay the normal price like local Thais. So yes, for an expat to pay the tourist price is unfair. We think that even if the law doesn’t change any time soon, Thai producers should start allowing expats to pay local Thai fees at least for the Thai small business’s appearance. Not only that, the stereotype about foreigners being rich should be fixed because, by that stereotype, some expats are getting damaged.

CIGARETTES

Sungwon Park

VAPES? Cigarettes and vapes are both demerit goods: they are over-consumed and over-produced in a free market. (2020) This means in the absence of government intervention, demerit good causes negative externalities to the third parties who are not involved in the direct transaction (only producers and consumers are involved in the direct transaction) - they will be adversely affected. Specifically, among the four types of externalities, cigarettes are classified into the negative externality of consumption: your consumption of cigarettes will have negative influences on third parties such as the society as an overall or an individual. This is shown in the diagram ‘Figure 1: negative externality of consumption’ by the marginal private benefit line being higher than the marginal social benefit line. When the marginal social cost line equals the marginal private cost, we refer to that as the point of assumption where no external costs of production are induced. Without considering the negative externality, the society would be producing at Qe (equilibrium), under the free market condition. However, if this were taken into account, the economy would be producing at the Qso (social optimum), thus causing the marginal social benefit to be placed lower than the marginal private benefit. Therefore, the vertical difference between the two lines represents the value of negative externality. Under the free market condition, the society would be consumed at Qe, resulting in inefficient allocation of resources from the society’s perspective, shown by the welfare loss. The commonly known negative externalities of cigarettes may be lowering the general health state of society or the impacts of secondhand smoking. For nonsmokers, frequent exposure to secondhand smoke could lead to numerous diseases: coronary heart disease, lung cancer and stroke to name a few. To take it to extremes, your choice of smoking could kill a person as it induces the premature death of another person. (2022)

Owing to the detrimental nature of cigarettes, the UK government came up with a new policy called the “Swap to Stop” early this year in April. The policy states that it will offer free vape starter packs to up to 1 million British cigarette smokers as an attempt to motivate quit smoking. Instead, switch to vaping, which is often regarded as a ‘healthier’ substitute. The UK government’s objective was to dwindle the negative externalities correlated with smoking cigarettes. It is expected to reduce the smoking rate from 13% to 5%. (Taylor, 2023) Since vaping inhibits users from being exposed to tar or carbon monoxide, people believe it is more beneficial to vape rather than smoke cigarettes. However, it is known that the nicotine contained in one vape equates to 50 cigarettes. (2023) Nicotine is a highly addictive substance, which is naturally present in the tobacco plant. Hence, switching from smoking to vaping in order to encourage quitting seems questionable as vaping contains more nicotine than smoking, making it harder to stop. Bibliography: EconomicsOnline, A. (2020, January 17). Demerit goods. Economics Online. https://www.economicsonline.co.uk/market_failures/demerit_goods. html/ Anonymous. (2022, November 1). Health problems caused by secondhand smoke. Centers for Disease Control and Prevention. https://www.cdc.gov/tobacco/secondhandsmoke/health.html#:~:text=In%20adults%20who%20do%20not%20 smoke%2C%20secondhand%20smoke%20exposure%20can,also%20r esult%20in%20premature%20death.&text=Secondhand%20smoke% 20can%20cause%20adverse,women%2C%20including%20low%20bir th%20weight. Anonymous. (2023, September 11). Tobacco and smoking - the facts about vaping. The facts about vaping - Tobacco and smoking. https://www.health.nsw.gov.au/vaping Wilson, D. R. (2023, November 28). Nicotine: Facts, effects, and dependency. Medical News Today. https://www.medicalnewstoday.com/articles/240820 Taylor, D. (2023, April 11). Britain to encourage smokers to swap cigarettes for vapes in world-first move. ABC News. https://www.abc.net.au/news/2023-04-11/britain-to-encouragesmokers-to-swap-cigarettes-for-vapes/102209174

Women Equality Impact on Saudi’s Economy By: Taehan Lee

The Kingdom of Saudi Arabia is headquartered in West Asia on the Arabian Peninsula, surrounding the Persian Gulf and the Red Sea. It is notorious for being misogynistic and discriminating against women. Examples include providing less education, fewer job opportunities, consanguineous marriage, and implausible laws for women in comparison to male. The reason why such laws exist is because of the conservative culture and traditions. However, due to the enlightenment among people, Saudi Arabia has started to reconsider this issue, inducing them to enhance their country to be a better environment for women. Frankly, Saudi Arabia has already been making changes since 1955 when Queen Iffat initiated the first private school for girls. However, it wasn't enough for women to live in peace. In my opinion, The most effective improvement in Saudi Arabia could be in 2017 to the day we live in right now.

In 2009, the first Saudi female minister was appointed to the council. In 2011, women were allowed to vote for the first time in the local elections and were appointed to the Consultative Assembly by King Abdullah. In 2012, Saudi women joined the Summer Olympics for the first time. In 2013, at least 20% of the women were required to be held in the Consultative Assembly to express their representation of women in Saudi Arabia to the United States Congress. In 2017, Saudi Arabia allowed women to manage Saudi’s stock exchange and access government services, education, and healthcare without permission from males. In 2018, they solved wage discrimination. In 2019, women are freely able to divorce or marry without any consent. In 2020, women will be able to work at night or in hazardous jobs. In 2021~2023, vast amounts of laws and opportunities are accessible to women such as foreign marriage, sports academies such as refereeing or being in a club, joining space commissions, joining Human Rights Commissions, joining Deputy Secretary-General, and more.

The improvement of Saudi Arabia toward women’s inequality could be the reason for protests. The protest for women’s rights has been going around across Iran and the region around that country. This led to chaos which made Saudi Arabia improve on laws and plans as the country also began to focus on tourism to diversify the economy rather than only investing in oil revenues. Recently, strict legislation and rules have been reformed to create a better environment for women to live in: allowing women to drive, letting them freely visit anywhere without a male family member, and permitting them to be in public places, which these laws have greatly impacted women. Additionally, it improved their workforce due to changes in laws such as availability of driving which helped earn extra time for women to work and allowing public places helped motivate themselves, which led to improvement in their workforce condition. A Saudi IT consultant called Fatimah Almathami, who studies in Brisbane of Australia is frequently asked about the safety of women in Saudi Arabia by foreigners. Saudi Arabia is stereotypically known for being a very dangerous place for women to live because of the negative reputation that Saudi Arabia has shown and the strict laws such as women need permission to go out in public. However, she denies their notion. She affirms that she misses how safe it is to go out late at night for a cup of coffee or a meal with her friends. Few Australians are aware of the rapid change of Saudi Arabia and they are always shocked about how Saudi Arabia has changed differently than before. Fatimah Almathami has lived for around 14 years in Australia as she studied her bachelor’s and PhD degrees at the University of Queensland. She always returns to her motherland each year to experience any changes such as laws, environment, architecture and more. But as soon as she revisits Saudi Arabia, she seems proud of what Saudi Arabia has turned into. Also, women's rights have positively impacted its economy. They have made enormous progress on these changes since 2017. According to the World Bank, Saudi Arabia’s economy freedom score has scored 70.9 points out of 100 which is a massive increase compared to its previous score of 31.8. Saudi Arabia could also be described as the most improved globally. In a study in the Kingdom from June 2017 to September 2019, they executed reforms in 6 out of 8 indicators that are linked to women’s economic empowerment. GCC Issam Abu Sulaiman, who is the World Bank’s Regional Director “Saudi Arabia basically has become one of the leaders in the Arab world in terms of women empowerment.” In 2019, this year was called the year of “groundbreaking” because the country allows women greater economic opportunities. They have equal the retirement age for women and men at 60 years which extended its working age and they have increased their wages and contributions.

Due to the increase in women’s workforce,

Another reason the female labor force

Saudi Arabia has experienced unemployment reduction. This results from governments promoting and caring for women’s equality by participating in economic activities. The female workforce rate has increased from 22% to 31% since 2020. The policies, which the government has published to benefit women, have supported the shift fluently by providing

rate increased is owing to the program Vision 2030 plan. This plan aims to diversify the economy and be less dependent on oil revenue. The program has realized and understanded the significant advantages of women's workforce and gender equality to extend economic growth. One of its objectives is

education and training; more job opportunities in all sectors; and a flexible working environment for working mothers. Not only did it result in a reduction in unemployment, but it also reduced the gender pay gap; promoted diversity; increased productivity; and increased skilled and wellqualified people to contribute to its economic growth and development. Additionally, nongovernmental organizations have been positively affected by this shift. Examples are childcare, education, healthcare, and more. These organizations have an increase in female employment rate which increase the demand for services and products for childcare and survival needs. Overall, the government is still

to increase women’s workforce rate to 30% by 2030. Achieving this will benefit its education, training, and job opportunities, as well as reducing social and legal barriers for females. There are some policies that the government has initiated for women which includes expanding access to education and training, improving quality teaching, and increasing the number of female joining in STEM fields. Additionally, they wanted to support women’s workforce rate, so they focused on their life balance which included maternity and paternity leave, a better workforce environment and cheaper childcare services to name a

improving and participating in the women’s labor force to reduce the unemployment rate

few.

and economic growth.

Saudi Arabia has improved and stated that their country is the biggest improvement globally which improves its reputation and environment of its country. Vast amounts of changes have made its citizens and government satisfied and happy, which is a win-win. Constant improvement and continuous relationship with female equality will prevent the degradation and reputation of its country.

A.E.H. Mobaraki and B. Söderfeldt . “Gender Inequity in Saudi Arabia and Its Role in Public Health.” World Health Organization - Regional Office for

the

Eastern

Mediterranean,

2010,

www.emro.who.int/emhj-volume-16-2010/volume-16issue-1/article19.html. Accessed 20 Nov. 2023. “Geography of Saudi Arabia.” Wikipedia, 16 Nov. 2023, en.m.wikipedia.org/wiki/Geography_of_Saudi_Arabia . Accessed 19 Nov. 2023. Relocate MENA & Relo-Global. “Breaking down Barriers: How Women Are Driving Economic Growth in Saudi Arabia.” Www.linkedin.com, 31 Mar. 2023, www.linkedin.com/pulse/breaking-down-barriershow-women-driving-economic-growth. Accessed 19 Nov. 2023. “Saudi Arabia Named Most Improved Economy for Gender Equality: World Bank Report.” Al Arabiya English,

Jan.

2020,

english.alarabiya.net/business/2020/01/15/SaudiArabia-named-most-improved-economy-for-genderequality-World-Bank-. Accessed 20 Nov. 2023. Shelton, Tracey. “Saudi Arabia Is Making Historic Strides in Women’s Rights so Why Haven’t We Heard about

It?”

ABC

News,

Jan.

2023,

www.abc.net.au/news/2023-01-16/saudi-arabia-ismaking-historic-strides-in-womens-rights/101770074. Accessed 20 Nov. 2023. “Women’s Rights in Saudi Arabia.” Wikipedia.org, Wikimedia

Foundation,

Inc.,

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2007,

en.m.wikipedia.org/wiki/Women%27s_rights_in_Saud i_Arabia. Accessed 20 Nov. 2023.

Bibliography

Rise of a new age by new energy revolution

By : Akira Iwano

The global push for clean energy is translating into tangible economic benefits, with job creation standing out as a key driver. According to the International Renewable Energy Agency (IRENA), the renewable energy sector employed over 12 million people worldwide in 2019, a number that continues to grow. In the United States, solar jobs alone grew by 25% from 2015 to 2019, surpassing employment in the coal and oil sectors combined.

One real-world example of the economic impact of clean energy is Germany's Energiewende or energy transition. Germany has been a trailblazer in adopting renewable energy, particularly wind and solar power. As a result, the renewable energy sector in Germany employed over 300,000 people by 2018, contributing significantly to the country's economy. While challenges exist, such as the need for grid upgrades and managing the transition for traditional energy workers, Germany's experience demonstrates the economic opportunities tied to clean energy fostering international collaboration and adoption. In terms of innovation, the ongoing research in nuclear fusion exemplifies the potential for breakthrough technologies. Projects like ITER (International Thermonuclear Experimental Reactor) in France, a collaboration involving 35 countries, aim to demonstrate the feasibility of nuclear fusion as a large-scale and carbon-free source of energy. The ITER project alone is not only driving technological advancements but also knowledge exchange.

Infrastructure investment is a crucial aspect of the

Reducing environmental and health costs transition. China, the world's largest emitter of is a compelling economic argument for greenhouse gasses, has made substantial investments clean energy. A study by the World

in renewable energy infrastructure. The country leads

Health Organization (WHO) estimated globally in both solar and wind capacity that outdoor air pollution contributes to installations, driven by a combination of government 4.2 million premature deaths annually. policies, subsidies, and a commitment to The economic burden of healthcare costs

transitioning away from coal. This massive

and lost labor due to air pollution is investment has not only bolstered China's clean substantial, making the case for transitioning to cleaner energy sources energy capacity but has also positioned the country even more compelling.

as a key player in the global clean energy market.

Global trade dynamics are shifting as clean energy gains prominence. The European Union's Green Deal is a comprehensive policy framework aimed at making the EU's economy sustainable. As part of this initiative, there is a significant focus on clean energy, including hydrogen production and storage. The EU aims to become a global leader in clean technologies, to export these technologies to international markets. This approach not only aligns with environmental goals but also positions the EU for economic leadership in the rapidly growing clean energy sector. Cost competitiveness is a critical factor in the adoption of clean energy. The International Energy Agency (IEA) reports that the costs of solar and wind power have declined significantly in recent years, making them increasingly competitive with traditional fossil fuels. In some regions, solar and wind projects are now the cheapest sources of electricity. For example, in the United Arab Emirates, the record-low solar power tariffs reached 1.35 cents per kilowatt-hour in 2020, highlighting the economic viability of clean energy. Government policies play a pivotal role in driving clean energy adoption. Denmark's success in wind energy is often attributed to consistent government support and a long-term vision. Denmark's wind industry is a major contributor to its economy, with wind power providing over 40% of the country's electricity. Government policies, including feed-in tariffs and strategic planning, have created a favorable environment for the wind industry to thrive. In conclusion, the economic impact of clean energy implementation is evident in real-world examples and statistical data. Job creation, innovation, reduced environmental and health costs, and shifts in global trade dynamics are tangible outcomes. While challenges exist, the economic case for clean energy is strengthened by the ongoing successes and lessons learned from pioneers in the field. As nations continue to invest in and adopt clean energy technologies, the economic landscape is poised for a sustainable and transformative shift.

Bibliography ADPower. “Abu Dhabi Power Corporation Announces Lowest Tariff for Solar Power in the World | Emirates Water and Electricity Company (EWEC).” Www.ewec.ae, 28 Apr. 2020, www.ewec.ae/en/media/pressrelease/abu-dhabi-power-corporationannounces-lowest-tariff-solar-powerworld#:~:text=The%20project%20has %20received%2C%20from. Danish Energy Agency. “Denmark.” IEA Wind TCP, IEA Wind TCP, ieawind.org/about-iea-windtcp/members/denmark/#:~:text=Denm ark%20produces%2016.08%20TWh%2 0from. IRENA. Million Jobs in 2018 Million Jobs in 2018 about IRENA. IRENA, 8 June 2019. ITER. “What Is ITER?” ITER, ITER, 2022, www.iter.org/proj/inafewlines. WHO. “Ambient (Outdoor) Air Quality and Health.” Who.int, World Health Organization: WHO, 19 Dec. 2022, www.who.int/news-room/factsheets/detail/ambient-(outdoor)-airquality-and-health.

National ATC Strike in France By : Hyunsun Choi Throughout this year, multiple French trade unions of transport industries came together and called for a national work stoppage to increase wages and gender inequality. Specifically, air traffic controllers (ATC) in France, like in many other countries, advocated for their rights, working conditions, and other professional concerns. These trade unions play a crucial role in negotiating with authorities and employers to ensure fair treatment and appropriate working conditions for their members. There have been recent developments or calls for work stoppages by air traffic controllers and many trade unions in France, such as the national work stoppage from Thursday evening (12 October) running through Friday 13th of October until 6 am on Saturday 14th of October. Following on, these unions further declared strikes to happen on November 20th, which will be the 53rd day of strikes by air traffic during this year. In Europe, France is known to be the country with the most strikes in this specific sector with 249 days of strikes since 2005. The main population who was affected by this act were the tourists. France is a well-known country for its beautiful coastline and views, rich art or cultural heritage, impressive architecture, and tasty food or wines. The country was found to be the most visited country in the world so far in 2023, with approximately 117 million international tourists. However, of the stoppage of ATF unions, many flights were either canceled or delayed: around 40 percent of flights at Paris Orly have been canceled, 25 percent of flights at Marseille-Provence airport and 15 percent at Paris Beauvais, according to the local media reports. Those flights not only included French airlines but also included British Airways, easyJet, and Ryanair which flew to either French or non-French destinations. This was because the French ATC workers disturbed airplanes to even overpower the country. The uncontrolled strikes and poor management of the airline companies brought up lots of complaints from the consumers, especially those who had to go over to France. As a response, the easyJet Company officially stated that they “expect that there will be delays and some disruption due to the industrial action”, as the situation was “outside of our control”.

Even after the chaos was caused, the unions did not stop and France’s largest union for ATC (SNCTA) threatened to stage another strike on Friday 15th of September. This was declared on the 13th of October, as any strikes must be announced 48 hours in advance. However, the union announced on its website on Tuesday that “an agreement has been reached” with France’s civil authority and the strike has been canceled. The deal included payment increases for the union members and plans to discuss new salary benchmarks for the following year. As a response, the union has also pledged not to strike during the Paris Olympic Games in 2024. At last, some agreements were made between the unions and the government, but further actions seem to be needed to control and minimise the impact of the strike, especially on other countries in the EU.

Bibliography: Dickinson, Sophie. “French Air Traffic Control Strike: Which Airports and Flights Are Affected?” The Telegraph, 20 Nov. 2023, www.telegraph.co.uk/travel/advice/frenchair-traffic-control-strike-2023-airportsflights/. Accessed 13 Dec. 2023. Gill, Rob. “French ATC Strike Causes Cancellations and Delays.” Businesstravelnewseurope, 20 Nov. 2023, www.businesstravelnewseurope.com/AirTravel/French-ATC-strike-causescancellations-and-delays. Monde, Le. “France’s Air Traffic Controllers Reject Restrictions on Their Right to Strike.” Le Monde.fr, 19 Nov. 2023, www.lemonde.fr/en/economy/article/2023/11/ 19/france-s-air-traffic-controllers-refuse-toaccept-restrictions-on-their-right-tostrike_6267744_19.html#. Accessed 13 Dec. 2023. Symons, Angela. “Will the Rugby World Cup Be Affected by Airport Strikes in France?” Euronews, 5 Sept. 2023, www.euronews.com/travel/2023/09/05/rugbyworld-cup-airport-chaos-could-hit-france-asair-traffic-controllers-threaten-strike-. Accessed 13 Dec. 2023.

Chanel's marketing strategy By Nadia Gultati Coco Chanel (August 19, 1883 - January 10, 1971) was a French fashion designer who, for six decades, ruled the Parisian haute couture. Her elegant, timeless and casual designs inspired women of the time and eliminated complicated and suffocating clothing such as corsets. Examples of her creation were the little black dress, quilted purse, chanel no 5 perfume and jewelry. Chanel has left a lasting impression on the history of fashion. This success is largely due to the brand's inventive marketing techniques as much as its distinctive designs and superior craftsmanship. Some examples of things that make Chanel special include : it's high quality materials as they only use the finest materials in their products ensuring durability. Its timeless designs which are a good investment because it never goes out of style and lastly, their iconic status that other brands cannot match. Chanel has adjusted to the changing market trends while maintaining the essence of its brand.

Chanel aims to make its brand something bigger than itself for example 'the little black dress' could be considered as just a dress. However, Chanel adds value to it by representing it as an embodiment of freedom and feminism. The dress was revolutionary because it was invented when women were still wearing uncomfortable corsets so women were fond of the invention of a classic, elegant and comfortable dress. The dress made a bold statement and went against many controversial ideas as well because it was black and simple.

Chanel no.5 also skyrocketed due to celebrity endorsements. In her lifetime, Marilyn Monroe never appeared in any Chanel campaign yet her interview in 1952 with a magazine had been the perfume's greatest advertisement. When asked what she wore to bed, Monroe replied “five drops of Chanel No.5 and nothing else.” Chanel is highly skilled at evoking desire through exclusivity and limited editions. Chanel creates an air of exclusivity that encourages interest in its products by releasing limited quantities of some items or working with well-known designers.

Scarcity creates a sense of urgency and drives demand, making every Chanel purchase an exclusive and desirable experience. For instance, when Chanel No.5 perfume sales started decreasing, Chanel intentionally decreased its inventory around the world to create a subconcious desire in consumers to chase after it because it is a limited quantity product. Other than this, Chanel stands out due to their use of emotionally charged marketing. Chanel is mindful of the emotional attachment that consumers have to luxurious goods. The brand's marketing communicates a story, stirs feelings, and establishes a lifestyle in addition to showcasing things. Chanel frequently utilizes exquisite imagery and cinematic storytelling in their advertising campaigns to immerse viewers in a world of sophistication and luxury. This emotional connection not only strengthens brand loyalty but also supports the notion that owning a Chanel item entails stepping into a world of luxury and distinction.

The groovy world of marketing: spotify’s marketing tactics Yoo Rim Ryu

In the ever-changing world of business, marketing involves strategic planning, market research, advertising, branding, and communication efforts to influence consumer behavior and create a positive perception of a brand or product. The goal of marketing is not only to facilitate transactions but also to establish long-term connections, fostering customer loyalty and brand advocacy. It's the art and science of making things irresistible to the audience—whether it's a product, a service, or, in Spotify's case, a world of music. In the ever-evolving landscape of the music streaming industry, Spotify stands out not only for its extensive library of songs but also for its mastery in the realm of marketing. The platform's success is not merely a result of chance but rather a carefully orchestrated symphony of marketing tactics that have captivated audiences worldwide. Let's take a closer look at the key strategies that make Spotify a trailblazer in the world of digital marketing. What sets Spotify apart from other music platforms is collaboration. Spotify understands the power of collaboration, and this is evident not only in its musical partnerships but also in its marketing endeavors. Collaborating with artists, brands, and influencers has become a signature move for Spotify. Whether it's creating exclusive content with popular artists, featuring curated playlists by influencers, or partnering with brands for unique campaigns, these collaborations serve as marketing crescendos, attracting new users and deepening engagement with the existing audience. Now let's tune in to Spotify's marketing tactics of personalization. Spotify creates a playlist just for your liking by using it's algorithms and data to understand your music taste. The platform has perfected the art of curating playlists tailored to individual tastes. Through sophisticated algorithms and data analytics, Spotify analyzes user behavior, musical preferences, and listening history to craft playlists that feel like a musical extension of the user. This personalized touch not only enhances the user experience but also fosters a deep connection between the listener and the platform allowing Spotify to gain customer loyalty.

Spotify's presence on social media is not just a formality; it's a well-orchestrated symphony that extends its reach beyond the confines of the app. Through platforms like Instagram, Twitter, and Facebook, Spotify engages with its audience, shares behind-the-scenes content, and runs targeted advertising campaigns. The brand's social media strategy contributes to building a vibrant community of music enthusiasts, reinforcing the connection between the users and the Spotify brand. Through these tactics, Spotify ensures that every step of the user journey is smooth and enjoyable. The platform utilizes strategic email marketing, push notifications, and in-app messaging to keep users engaged and informed. This attention to the user experience not only retains existing subscribers but also encourages them to explore and discover new music continually.

In conclusion, Spotify's ascent to the summit of the music streaming industry is not solely attributable to its vast music library; it's a testament to the platform's ingenious marketing tactics. By prioritizing personalization, embracing collaborations, leveraging data insights, maintaining a strong social media presence, and ensuring a seamless user journey, Spotify has not just created a music streaming service but an immersive and personalized experience for its users. As the digital landscape continues to evolve, Spotify's marketing symphony serves as a benchmark for businesses looking to strike the right chord with their audiences.