Fairtrade Products: The Provision Of Prices

Name Tutor Course Date Fairtrade Products Fairtrade is an initiative aimed at the improvement of the lives of those that are poor in underdeveloped nations by offering attractive terms to a majority of producers and assisting them in their operations. Despite fair trade products comprising of a small compilation of the market, they have been rapidly increasing recently (Dragusanu, Giovannucci and Nunn 2). The development of Fairtrade and labels was initiated when a nongovernment institution enacted a program to ensure the crop growers in countries with low income received enough wages. The philosophy was embraced in different nations that used various methods. The main goal of Fairtrade is the provision of prices that ensure the producers have a basic livelihood. Pricing The main feature of Fairtrade is the lowest price that a certified Fairtrade product could be sold at to a buyer. The purpose is to ensure it covers the cost of sustainable production and ultimately accommodates a broad range of wages (Dragusanu, Giovannucci and Nunn 5). The buyer of a fair trade product is one willing to pay for a particular minimum price while the global price is lower. For Glee Gum, the CEO elaborates that the pricing is relatively lower in comparison to other gum products with its natural organic feature. The product additionally targets impulsive consumers (Clair 2). The company has ensured it has adhered to the pricing requirements of certified Fairtrade products. Glee Gum Glee Gum is a natural gum, hence the product is characterized as a Fairtrade product. The CEO highlights that consumers of the product often elaborate that the gum is surprisingly delicious. Majority of people characterize healthy natural products to having a bad taste or no taste at all. The company producing the gum has additionally advanced into developing gum without sugar. The gum is made from chicle, which is a dominant tree in Mexico (Clair 2). The Gum is embraced more since it results in an increase in income for the cultivators and farmers that harvest it. It received support from the majority of the global population since it discourages individuals from cutting down the trees, promoting environmental conservation. The annual fair trade week comprising of more than 50 campuses in the country is organized to create awareness on the operationalization of Fairtrade (Guy). Glee Gum seized the opportunity to promote the ideology of Fairtrade to create an appeal targeting the students as the key market for the product. The process included the incorporation of social media among other digital platforms. The marketing plan by Glee Gum included the participants’ involvement in the event while chewing the gum products of the company. Glee Gum that ensured ...