Supply and demand is a fundamental concept in economics, which describes the relationship between the availability of a product or service and its demand, and is a core concept and philosophy in what we do at ShareBuilders.

As we shared in last month’s blog, when prices fall, demand generally increases. When a station uses the strategy of “pricing for share” it involves lowering the price in an effort to make the station’s inventory more attractive to buyers, thus encouraging them to buy more. Having one advertiser “buy more inventory” might be good in a specific instance, but if this strategy is utilized universally with every advertiser, it can lead to problems. Here are a few points to consider:

World Radio Day is coming up, and we are excited about it. What is World Radio Day, you ask? Why, it’s a day to celebrate the world’s most powerful and ubiquitous medium for disseminating information and entertainment. UNESCO proclaimed February 13 World Radio Day in 2011, and it was later adopted by the UN General Assembly as an International Day in 2012. With radio being so ingrained in our daily lives, it’s easy to forget how awesome it is that we can transmit messages and music through the air. Science is amazing. In that light, let’s take a step back and really appreciate the miracle that is radio by checking out these ten fun radio facts.