Question

Consider the four-step process that many companies follow to estimate the market demand curve for their product. Place the steps in order, with the first step in the highest position and the last step in the lowest position.a. survey customersb. plot the demand curvec. scale up the quantities demanded by the survey respondentsd. add up the total quantity demanded by the customers at each price point

Answer 1

Answer:

The four-step process that many companies follow to estimate the market demand curve for their products are:

a. survey customers

d. add up the total quantity demanded by the customers at each price

c. scale up the quantities demanded by the survey respondents

b. plot the demand curve

Explanation:

The above steps enable the companies to estimate the market demand for their products.  They also segment the demand to ascertain the segments that will perform better than others.  The behavior of consumers is modeled during the estimation to verify how the price of the product, consumer income, or any other variables will impact the market demand.