Answer:
Evaluation of competitors price
Explanation:
Shelly must benchmark her product's price against its direct competitors, how often they offer discounts or promotions, etc. She should also evaluate differences in product quality, and if possible, she should try to get information about her competitors' costs.
Are you offering a high quality, medium quality or low quality product? Is your price correct according to what the competition offers? Or is it too high or too low? If so, why is it too high? It it's too low, it is always easier to increase the price but decreasing it may b difficult.
Depending on what type of product you want to sell and the relationship that your company has with retailers, the distribution costs can affect your final price. For example, some companies make special deals with some retailers to give them exclusive rights to sell their products at a certain price that tends to be much lower than their competitors'.
Supply elasticity is the responsiveness of the distribution of a good to the amount charged for a good in economics
Answer:
(i) Q=300
(ii) Elasticity of Demand=-3.33 (elastic)
(iii) Income Elasticity= 2.5 (normal good)
(iv) Advertising Elasticity: 1.5
Explanation:
The Demand function is given by
(1) To solve (i) we need to replace P = 200, I = 150, and A = 30 in the demand equation:
(2) To find the price elasticity (how much quantity demanded changes with price) we use the point price elasticity formula
From the above equation we get: 
Replacing in the elasticity formula
in absolute terms the elasticity is bigger than one so it is an elastic demand.
(3) For income elasticity (how much quantity demanded changes with income), we proceed similarly as above. But the derivative is respect to income
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Which is bigger than one, denoting this is a normal good because it's bigger than one.
(4) Advertising elasticity (how much quantity demanded changes with expenditures in advertising), we proceed as before
Answer:
<em>New Buy</em>
Explanation:
A new buy <em>is a situation that requires an item to be purchased for the very first time. </em>
It is crucial for the business seller to provide a compelling argument in this type of purchasing situation to use their product line and a lot of information to help the business owner make an informed choice.
A new buy scenario can take much longer to happen as participants in the research evaluation and purchase center will have to make the final decision.
Answer:
Option "D" is the correct answer to the following statement.
Explanation:
Brand participation strategy is a commitment provided by companies for a brand. This is brand recognition with its engagement and express marketing. Social media has helped to increase the willingness of customers to engage with products with a new standard for brands and to build new connections between brands and customers.
