Introduce the chosen news article and its source.

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

Identify and explain relevant economic concepts related to the article.

Describe how the article ties into class economic principles.

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.

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.

A century old brand finds new life

• Stanley cup was originally known from making outdoor products saw extreme success when the brand was dying due to influencer marketing and social media viability from Tik Tok

Influencer drive the shift

• due to a group of female influencer from the shopping blog, The Buy Guide, the Stanley quencher was applea to gain appeal beyond the traditional male audience. The Promotion targeted women showing that the product is stylish

Change in Target

• Stanley used to be focused ontargeting worken and outdoor enthusiants but through the Quencher and its viral success the brand shifted. The company saw the shift through social media and switched its marketing focus on hydration and lifesytle

Social Media part in growth

• From Tik Tok the Quencher product became extremely popular item as well as through now some people view it as a collectible item (even at Wisconsin they had a pop up shop during alabama weekend.

Expansion into adjacent markets: Stanley expanded its market from outdoorsmen to the inclusion of women, which allowed the firm to reach more clients. As more people bought the cups, the more popular these cups got. The demographic that Stanley started marketing towards happens to have a large snowball effect once one or two people buy the cups. 

Influencer marketing: Stanley relies on influencers of "The Buy Guide" (The Buy Guide is a shopping blog and connects with Instagram, that promotes lifestyle products), to market its Quencher Tumbler, which enjoyed increased demand due to social media influence.

Elasticity: As a result of popularity, the substitutes have become less valuable. This means that people are less likely to buy other water bottle brands. Stanley is able to maintain prices without consumers switching over to other cups. 

Scarcity and demand: Stanley offered very few colors and launched them at very selective times, creating a sense of scarcity where people would buy his products as soon as possible, so they wouldn't get left out. This oftentimes creates a shortage, when Stanley can then raise the price next time they do a limited drop. 

Network effect: The more the number of influencers, the greater the chances that Stanley would be able to get its product across to new audiences without spending so much on traditional ads. Influencers benefit from the network effect. The more people that use Tik Tok or Instagram, the more powerful these influencers messages are. With the rise in social media influencers have become some of the most effective ways to get word out about a product. 

Cost benefit analysis of influencer marketing: Stanley opted to invest in influencer marketing, and this means they spent less money advertising to their old target audience of workmen and outdoorsmen. Stanley decided that the benefits of using influencer marketing outweighs the costs of paying the advertisers, and not advertising to the old population group. 

Efficient utilization of marketing resources: Earlier, Stanley focused their promotion mainly on workmen and this restricted the target audience. When targeting women, they are using their marketing resources much more efficiently. The influencers that Stanley uses to advertise are chosen based on their fans’ demographics. Stanley purposely chooses influencers to advertise that have a large young adult women population.