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Introduce the chosen news article and its source.

Provide a brief overview of the main points discussed in the article.

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Identify and explain relevant economic concepts related to the article.

Describe how the article ties into class economic principles.

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Use a graphic to visually demonstrate the standard equilibrium model's application to the policy or situation in the article.

Analyze whether the model’s predictions align with the article's content.

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Summarize the positive (descriptive) and normative (value-based) analysis of the policy or situation.

Present a reasoned conclusion on the policy's effectiveness, considering efficiency, equity, winners and losers, etc.

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The news article chosen is titled, "The Rise of the Stanley tumbler: How a 110-year-old brand achieved viral success" written by Caroline Jansen on the RetailDive website. This article summarizes how the widely popular, "Stanley Cup," only recently gained its popularity. It discusses topics of how the business was able to pivot its customer engagement in order to become, quite possibly, the most influential drinkware brand today. When Stanley was invented, it was geared towards consumers interested in outdoor activities, along with workmen. The infamous Stanley Cup was at risk of discontinuation, when a group of Instagram influencers urged the brand to keep the cup in stores. Thus, the Stanley company urged the women influencers to place a "wholesale order - with a minimum order quantity of 10,000 cups." The cups sold out in the span of five days. Stanley then learned where they went wrong. They were marketing the cups to the wrong people. The article describes how any brand that isn't marketing to the 25 to 50 year old woman is doing it wrong, as women are the buyers of the economy. They buy for everyone in their household. Stanley has since redirected its target market to focus on the younger generation of females. They have created collection lines that urge their consumers to collect their cups, as it brings a greater sense of joy to the consumer. They have created holiday-special cups, and incorporated limited time collaborations with brands like Starbucks, which urge their consumers to continue to buy more. Stanley is know known worldwide as a "consumer-first" brand, which ensure that their consumer demands and feedback are what is driving their products.

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I believe there to be tons of class economic principles that we can apply to Stanley's success. For one, the marginal benefit principle stands out the most. Since Stanley has redirected it's target market to women ranging from 25-50 years of age, there product success has skyrocketed. By targeting younger female consumers, their marginal benefit of purchasing a tumbler has increased. Stanley was able to establish an emotional connection with its users, prompting them to buy more. Essentially, the marginal benefit for Stanley Tumbler's is greater for younger women, meaning that by consuming one more good, greater satisfaction is gained. This reminds me of the podcast episode we listened to this week in class, as the Stanley Cup market is similar to the concert ticket market. Similar in the sense that both have created an emotional attachment with their fans, and that their consumers are willing to buy more, at a higher price. Another class economic concept that may relate to the Stanley Cup business are the principles of market equilibrium. It is evident that Stanley was not at market equilibrium when they were targeting their products for workmen. In fact, they ran into the problem of having a surplus of quantity. Their supply was too high for their demand. However, after shifting gears, and marketing their products to younger generations, their demand has surged. Since, Stanley has worked hard to reach a market equilibrium, by coming out with collectible items, to ensure that their supply meets the newly found high demand. Some strategies that Stanley uses to keep their audience excited and their demand high is creating limited edition colors/designs, along with teaming up with other well-known brands for collaborations.

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Pictured above is a graph representing how Stanley's market equilibrium has changed over time. We represented a rightward shift in the demand curve to represent the surge in demand for Stanley's products since they began targeting a younger female audience. Thus, price and quantity supplied have both increased, representing a higher market equilibrium for Stanley. It is important to note that the article described that Stanley responds to their consumer's needs. They are practically monitoring their market, to ensure they remain aligned with their consumers needs, and effectively produce their goods to meet their consumers demands. Essentially, they, like many businesses, are trying to maintain an equilibrium.

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In sum, Stanley has made a full 360 as a company. Since the brand has shifted their marketing techniques, the brand experienced a significant increase in their demand schedule. The market equilibrium has since risen, to not only match the needs of the consumers, but also the company. The brand has also established a greater sense of customer engagement, by launching products that give its users an emotional attachment to the brand. This allows the brand to continue to be a leading force among its competitors, and keep its market in equilibrium. They are supplying just the right amount for their quantity demanded. Since Stanley has become more engaged with their consumer's needs and wants, they were able to efficiently keep their Tumblers in stores and on shelves. In our opinion, there are no true losers in this situation. The consumers are getting their needs met, and the company is benefiting greatly. Stanley has established themselves as one of the largest and most popular water bottle brands today. The hype around them is one unlike anyone has seen in the water bottle market. We are very impressed as a group at Stanley's economic approach, and market knowledge!