Everything is economic in that you can only produce something if you have the resources to produce it. Unless they can find the whale vomit, which is rare to find, they can’t produce that specific kind of previous perfume that they want which represents the scarcity of the product. Also, a product having a scarce resource increases the demand for it and gives her a reason to review it. - Avneet
I once heard during a discussion of drug legalization that if there is enough demand for a product to make supplying it profitable, producers will produce it regardless of every other factor (including legality). I think ambergris relates to this in that while some people may view it as unhygienic or undesirable due to its origins as vomit, the demand resulting from the positivity of it's fragrance makes ambergris economically valuable. Thus, I would agree with the statement that everything is economic, because most everything has a perceived value as a result of it's demand and in turn a supply, which are both subject to economic forces.
I agree. I think it is fascinating how these people are obsessed with a fragrance that derives itself from the excrement of a sperm whale. Does ambergris actually have much of a scent of its own? Or do people mentally associate an odor with the ambergris because they feel as if they ought to? Because it is a rare substance, people feel the need to admire it and give it meaning because others have claimed that it is valuable. In reality though, that meaning may not exist. It could only be a subconscious imagining of the mind.
Perhaps that could be said for many resources in economics. Inherently, they may not serve much value, but the perception that they are rare gives them value that they would not have otherwise. If some people give it that value, others join the bandwagon. And thus, people become obsessed with items that seem to lack logical basis.
Psychology plays such an important role in the value of resources. This can be seen in a number of markets. For example, De Beers greatly increased the value of diamonds by matching the idea of the diamond with love and commitment, making them popular for gifts and proposals. Now, the value of diamonds has become generally accepted. You wouldn't think a company was able to single-handedly create that belief.
I find it pretty interesting that ambergris can be found by anybody and will make a large profit. It seems pretty difficult to believe that a poor fisherman in a third world country will make any profit off ambergris. I feel that no matter which rich person they sell it to, the fisherman will not make a huge profit because they can't utilize any capital machinery to refine whale barf into a usable product. Though the idea of making a lot of money by chance sounds nice, it doesn't seem like a likely event that will occur for any random person. Since I am male I feel that having a perfume made from real whale barf isn't very relevant and necessary to begin with.
I agree with the statement that everything is economic given how easily Katie was able to advocate the Hermes cologne/perfume despite it being made of whale barf. Advertisers are so motivated towards making a profit through any means possible, which is clearly demonstrated through this advertisement for Hermes. We often hear in the news how cream, toy, and food companies use unhealthy and sometimes harmful ingredients just to make their products taste, look, or seem better. Advertisers exploit us gullible and ignorant consumers, which is why they are so easily able to attract a multitude of people towards buying their products.
In addition, at the end of the advertisement, Katie underscores how personalized the perfume is, and how it can be made to smell like the consumer him/herself. This is very economic since personalization is used by Hermes as a means to attract a variety of consumers who appreciate personal colognes/perfumes. "Smelling like you" supersedes the ingredients of the cologne/perfume, which is why many consumers would proceed to buy the Hermes product, besides the fact that it's an expensive and widely-acclaimed brand.
Alright then, this is rather shocking.. This sounds disgusting. Marinating? I don't think precious, but probably rare oceanic has a lot of different meanings, but she went through a lot of them Fresh, warm, and salty? This just seems like dunking yourself in a NY beach in the middle of winter. Very polar descriptions. I don't know what she's trying to inform or say.. Was there supposed to be a purpose to the video? Not sure if it was informative or endorsing or just a satire of the product in general.
Shana Sanichar (P. 5): I found it difficult to find the connection this video had to economics. I understand that she was talking about a rare substance, called "ambergris," what was used in perfumes. Maybe the economic connection is that many perfume companies do not used this substance anymore because it is rare to find. Also, if perfume companies used this substance their perfume would obviously be much more expensive and they would have to produce less since the cost to make one will increase. There are many perfume brands that are very expensive, so if they used ambergris then the price may be too high for a larger market.
Don't know if I should feel scared or surprised that whale barf has been used for hundreds of years in perfume. Although I believe using grey amber in products is ludicrous, humans can basically sell anything they desire. Thus, I agree that everything can be economic and profitable if the person knows how and where to market it. -J.O
Eau de Merveilles is a very strange product for a fragrance line to produce. Although I understand that it is an rare material, thus making the fragrance very expensive, and therefore of "demand" by the top 1% of buyers, the sea fragrance described by the woman in the video does not seem over the top. The possible rancid smells that could come of the whale barf is honestly not worth the cost. More over, I think the only appeal to the product is its rarity, other than that, the fragrance is easily replaced by chemicals that are less random smelling.
I find it extremely interesting how whale barf is an integral part of this fragrance. It's interesting to see how consumers don't really look into the ingredients of products they buy. AND, it's practices such as this that lead to companies being able to do whatever they wish with their products. As a result, some companies might compromise the security of their products by using health hazards to make more profit. But then again, with this whale barf, Hermes is paying a chunk of change for it. Regardless, it's interesting to see the connection between the consumer and company, which is often the blind following of the former to the latter. But hey, if people are living their life as they enjoy, who am I to judge.
I suppose everything really is economic. If it is desired or rare enough, perhaps anything in the world can become a pricey material or product. I know little to nothing about perfume so I can say that this idea of whale waste being used in fragrances surprised me. I wonder if the fact of this material was originally widely acknowledged when they began to use in it perfumes and whether or not it affected the adoption of these fragrances by consumers. Either case proves the idea that anything can be profitable with the right usage or consumer population. ,DLang Pd. 5
In terms of economics, I think the topics discussed in this clip touch on the concept of consumer tastes. Ultimately, the value of a product is really determined by how we ourselves value it. I'm confident no one is running around to find squirrel barf or zebra excrement. However, since our own senses evoke a positive reaction to whale barf, the substance becomes valuable. The value of whale barf also relates to the fundamentals of supply and demand. If a product has a low supply and high demand, then its price increases. Consequently, I agree: everything is economic.
Justin Hsuan I hope that I watched the correct video. I certainly was not expecting to learn about ambergris and Hermes eau de toilette. I suppose if this is indeed the correct video, its intent was to throw us off or perhaps make us think deeper. I detected traces of economics in the video such as how the scarcity of ambergris made it incredibly desirable, despite its seemingly unappealing origins. The video also gives some insight into the modern day scent industry and how wearing a certain perfume is really about portraying a certain type of desirable lifestyle. I think that's about it.
I do not agree with her, I would never wear sprem of a whale as a fragrence, no matter how different it smells or exotic thats just disgusting. In my opinon i feel perfume should be more of a natural smell not toxic or from other animals.she does not convience me to use this product. Victoria Fontana
I find it insane that anyone figured out that this random substance that ends up on the beach could be used as perfume. Even after they figured out that it was Whale barf they still kept using it and because of its rarity, people make substitutes and similar substances because demand is so high. People will buy anything if you market it right. -ZL
I think it is ridiculous that whale barf is used in perfume...to me that just screams desperation! Are people really that desperate to smell soo good that they don't care if the product contains whale barf...I could never do that. em pd 8
UM, at first i thought this was a joke. this is kind of disturbing to think about if this is truly real. the fact that people would even consider wearing this? even if it did happen to "smell good" just the thought of ahving this "ingredient" on my body would just make me feel so disgusting. i do not agree AT ALL with this, no matter how much money it could bring in.
To me it doesn't really matter what is used in the perfume as long as the whales dont get hurt. If they were focing the whales to throw up and killing them somehow, I would consider it wrong and not right at all.
I agree. Everything has a supply and demand, so of course everything relates to economics. Even something as seemingly random and useless as whale barf can retain a high value because people will want it for its desirable uses (demand), and because there is a struggle to find this rare resource (supply).
Everything is economic in that you can only produce something if you have the resources to produce it. Unless they can find the whale vomit, which is rare to find, they can’t produce that specific kind of previous perfume that they want which represents the scarcity of the product. Also, a product having a scarce resource increases the demand for it and gives her a reason to review it. - Avneet
ReplyDeleteI once heard during a discussion of drug legalization that if there is enough demand for a product to make supplying it profitable, producers will produce it regardless of every other factor (including legality). I think ambergris relates to this in that while some people may view it as unhygienic or undesirable due to its origins as vomit, the demand resulting from the positivity of it's fragrance makes ambergris economically valuable. Thus, I would agree with the statement that everything is economic, because most everything has a perceived value as a result of it's demand and in turn a supply, which are both subject to economic forces.
ReplyDeleteI agree. I think it is fascinating how these people are obsessed with a fragrance that derives itself from the excrement of a sperm whale. Does ambergris actually have much of a scent of its own? Or do people mentally associate an odor with the ambergris because they feel as if they ought to? Because it is a rare substance, people feel the need to admire it and give it meaning because others have claimed that it is valuable. In reality though, that meaning may not exist. It could only be a subconscious imagining of the mind.
ReplyDeletePerhaps that could be said for many resources in economics. Inherently, they may not serve much value, but the perception that they are rare gives them value that they would not have otherwise. If some people give it that value, others join the bandwagon. And thus, people become obsessed with items that seem to lack logical basis.
Psychology plays such an important role in the value of resources. This can be seen in a number of markets. For example, De Beers greatly increased the value of diamonds by matching the idea of the diamond with love and commitment, making them popular for gifts and proposals. Now, the value of diamonds has become generally accepted. You wouldn't think a company was able to single-handedly create that belief.
I find it pretty interesting that ambergris can be found by anybody and will make a large profit. It seems pretty difficult to believe that a poor fisherman in a third world country will make any profit off ambergris. I feel that no matter which rich person they sell it to, the fisherman will not make a huge profit because they can't utilize any capital machinery to refine whale barf into a usable product. Though the idea of making a lot of money by chance sounds nice, it doesn't seem like a likely event that will occur for any random person. Since I am male I feel that having a perfume made from real whale barf isn't very relevant and necessary to begin with.
ReplyDelete-Russell Hu pd 5 micro
Ravina Jain PD. 5
ReplyDeleteI agree with the statement that everything is economic given how easily Katie was able to advocate the Hermes cologne/perfume despite it being made of whale barf. Advertisers are so motivated towards making a profit through any means possible, which is clearly demonstrated through this advertisement for Hermes. We often hear in the news how cream, toy, and food companies use unhealthy and sometimes harmful ingredients just to make their products taste, look, or seem better. Advertisers exploit us gullible and ignorant consumers, which is why they are so easily able to attract a multitude of people towards buying their products.
In addition, at the end of the advertisement, Katie underscores how personalized the perfume is, and how it can be made to smell like the consumer him/herself. This is very economic since personalization is used by Hermes as a means to attract a variety of consumers who appreciate personal colognes/perfumes. "Smelling like you" supersedes the ingredients of the cologne/perfume, which is why many consumers would proceed to buy the Hermes product, besides the fact that it's an expensive and widely-acclaimed brand.
Alright then, this is rather shocking..
ReplyDeleteThis sounds disgusting.
Marinating?
I don't think precious, but probably rare
oceanic has a lot of different meanings, but she went through a lot of them
Fresh, warm, and salty? This just seems like dunking yourself in a NY beach in the middle of winter.
Very polar descriptions. I don't know what she's trying to inform or say..
Was there supposed to be a purpose to the video? Not sure if it was informative or endorsing or just a satire of the product in general.
test
ReplyDeleteShana Sanichar (P. 5): I found it difficult to find the connection this video had to economics. I understand that she was talking about a rare substance, called "ambergris," what was used in perfumes. Maybe the economic connection is that many perfume companies do not used this substance anymore because it is rare to find. Also, if perfume companies used this substance their perfume would obviously be much more expensive and they would have to produce less since the cost to make one will increase. There are many perfume brands that are very expensive, so if they used ambergris then the price may be too high for a larger market.
ReplyDeleteDon't know if I should feel scared or surprised that whale barf has been used for hundreds of years in perfume. Although I believe using grey amber in products is ludicrous, humans can basically sell anything they desire. Thus, I agree that everything can be economic and profitable if the person knows how and where to market it.
ReplyDelete-J.O
Eau de Merveilles is a very strange product for a fragrance line to produce. Although I understand that it is an rare material, thus making the fragrance very expensive, and therefore of "demand" by the top 1% of buyers, the sea fragrance described by the woman in the video does not seem over the top. The possible rancid smells that could come of the whale barf is honestly not worth the cost. More over, I think the only appeal to the product is its rarity, other than that, the fragrance is easily replaced by chemicals that are less random smelling.
ReplyDelete-Brandon Yu
I find it extremely interesting how whale barf is an integral part of this fragrance. It's interesting to see how consumers don't really look into the ingredients of products they buy. AND, it's practices such as this that lead to companies being able to do whatever they wish with their products. As a result, some companies might compromise the security of their products by using health hazards to make more profit. But then again, with this whale barf, Hermes is paying a chunk of change for it. Regardless, it's interesting to see the connection between the consumer and company, which is often the blind following of the former to the latter. But hey, if people are living their life as they enjoy, who am I to judge.
ReplyDelete-W.C.
I suppose everything really is economic. If it is desired or rare enough, perhaps anything in the world can become a pricey material or product. I know little to nothing about perfume so I can say that this idea of whale waste being used in fragrances surprised me. I wonder if the fact of this material was originally widely acknowledged when they began to use in it perfumes and whether or not it affected the adoption of these fragrances by consumers. Either case proves the idea that anything can be profitable with the right usage or consumer population.
ReplyDelete,DLang Pd. 5
In terms of economics, I think the topics discussed in this clip touch on the concept of consumer tastes. Ultimately, the value of a product is really determined by how we ourselves value it. I'm confident no one is running around to find squirrel barf or zebra excrement. However, since our own senses evoke a positive reaction to whale barf, the substance becomes valuable. The value of whale barf also relates to the fundamentals of supply and demand. If a product has a low supply and high demand, then its price increases. Consequently, I agree: everything is economic.
ReplyDeleteA perfume that makes you smell like you just came from the beach? Kramer had that idea on Seinfeld years ago.
ReplyDeleteThe description of the fragrance actually sounds pretty good. I wonder how well this product would sell if it weren't made by Hermes
Justin Hsuan
ReplyDeleteI hope that I watched the correct video. I certainly was not expecting to learn about ambergris and Hermes eau de toilette. I suppose if this is indeed the correct video, its intent was to throw us off or perhaps make us think deeper. I detected traces of economics in the video such as how the scarcity of ambergris made it incredibly desirable, despite its seemingly unappealing origins. The video also gives some insight into the modern day scent industry and how wearing a certain perfume is really about portraying a certain type of desirable lifestyle. I think that's about it.
I do not agree with her, I would never wear sprem of a whale as a fragrence, no matter how different it smells or exotic thats just disgusting. In my opinon i feel perfume should be more of a natural smell not toxic or from other animals.she does not convience me to use this product.
ReplyDeleteVictoria Fontana
I find it insane that anyone figured out that this random substance that ends up on the beach could be used as perfume. Even after they figured out that it was Whale barf they still kept using it and because of its rarity, people make substitutes and similar substances because demand is so high. People will buy anything if you market it right.
ReplyDelete-ZL
I think it is ridiculous that whale barf is used in perfume...to me that just screams desperation! Are people really that desperate to smell soo good that they don't care if the product contains whale barf...I could never do that.
ReplyDeleteem pd 8
UM, at first i thought this was a joke. this is kind of disturbing to think about if this is truly real. the fact that people would even consider wearing this? even if it did happen to "smell good" just the thought of ahving this "ingredient" on my body would just make me feel so disgusting. i do not agree AT ALL with this, no matter how much money it could bring in.
ReplyDeleteCR. SRA PD8
To me it doesn't really matter what is used in the perfume as long as the whales dont get hurt. If they were focing the whales to throw up and killing them somehow, I would consider it wrong and not right at all.
ReplyDeleteSean m sra
I agree. Everything has a supply and demand, so of course everything relates to economics. Even something as seemingly random and useless as whale barf can retain a high value because people will want it for its desirable uses (demand), and because there is a struggle to find this rare resource (supply).
ReplyDelete- CN