Sunday, October 20, 2013

Demand and Supply in Political marketing

Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much (quantity) of a product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and quantity demanded is known as the demand relationship. Supply represents how much the market can offer. The quantity supplied refers to the amount of a certain good producers are willing to supply when receiving a certain price. The correlation between price and how much of a good or service is supplied to the market is known as the supply relationship. Price, therefore, is a reflection of supply and demand.

The relationship between demand and supply underlie the forces behind the allocation of resources. In market economy theories, demand and supply theory will allocate resources in the most efficient way possible. How? Let us take a closer look at the law of demand and the law of supply.
In Political marketing Demand and Supply principal is very relevant. Good Governance and Fight against corruption are political products much in demand. Those, who supplied it, won the elections. Good Governance sellers are many like Nitish kumar, Narendra modi, Sheila Dixit etc. But the political Product Fight Against  Corruption is being sold by only one party APP. This is the reason it it going to get good number of seats in Delhi as per survey, albeit of its very short life.
Good Governance is now political agenda in Indian elections and now in young age. But Fight Against Corruption will be the agenda in coming elections. It is in its adolescent age. But It will survive and will have a long life. Our political actors and parties must note it and amend their acts accordingly.