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SBD Global/April 3, 2014/Marketing and Sponsorship
British PM Backs 'Rethink' Of Nike's $150 Price Tag For England's Replica World Cup Kit
Published April 3, 2014
IS IT CAMERON'S POSITION TO COMMENT? In London, James Kirkup opined "Where to start with this? How best to explain just how lamentably stupid, cravenly populist and intellectually vacuous this is?" He continued, "Let’s start with markets. Markets are great. They allow people who want to sell stuff and people who want to buy stuff to agree on a price for that stuff. People selling stuff generally think quite carefully about how much to ask for it, seeking the price that will allow them to sell that stuff at the greatest profit. Sorry if that explanation seems a bit simple or even patronising, but it appears to be necessary, because we live in a country where even our Oxford-educated Prime Minister doesn’t seem to understand it." Kirkup added, "Nike is a profit-making company, selling a commercial product in a free market." It "has decided to sell these particular products for £90." How many shirts it sells -- and whether it sells any at all -- "will be decided by the other participants in that market: consumers." Cameron is "using the might and majesty of his office to tell a profit-making company to rethink its pricing policy." It is an "embarrassingly incoherent position for a politician who claims to believe in free markets" (TELEGRAPH, 4/2).