As olive oil’s popularity rises over perceived health benefits, so do prices. Here’s why.

If you purchased olive oil in the last few months, chances are you’ve noticed a price change.

Click here to read the story at usatoday.com.

Discussion Questions:

1. What is price?
2. Why is it an important part of the marketing mix?
3. What factors influence price?
4. According to this story, which country typically provides roughly 40% of the world’s olive oil supply?
5. What has happened there that has influenced an olive oil price increase?
6. What is differentiation?
7. How might perceived health benefits and sustainability advantages associated with olive oil represent an example of differentiation from other popular food oils?
8. What is supply and demand?
9. How does supply and demand influence price?
10. Why has the global demand for olive oil increased?
11. According to this story, can consumers expect the price of olive oil to come down soon?
12. If prices remain high, do you think that might impact the demand for other food oils? Why or why not?