Answer:
My advice to the manager is to set the tichet price as close as possible to the point where the price elasticity of demand equals 1
Explanation:
The PED shows the responsivenes of the quantity of a good or service to a change in its price when nothing changes but the price.
Is the percentage change in the quantity demanded of a good or service divided by the percentage change in the price.
An independent consumer education website that has no motive to try to sell you something such as Consumer Reports.
Answer:
Explanation:
check the file attached for full explanation
Answer:
controllable factors
Explanation:
The marketing mix elements are called
controllable factors because they are the responsibility of the marketing department in an organization.
It should be noted that the marketing mix elements are are reffered to as controllable factors because the controllable factors are those steps or action that are taken in business to bring about development and to market the business products and services.
These controllable factors could be the price of the product/ services how the product is been promoted as well as places and others.
(A) creating superior customer value and satisfaction.
When customers are satisfied with products and services, it tends to build a lasting relationship, and that is why some customers will stick to a particular product for years irrespective of change in price or change in income. Value to customers as to do with what they benefit from your product or services rendered, and so to create superior customer value satisfaction, you need to understand what your customers really want and ensure that they get value/benefit.
