03 May EXPLAIN HOW IMPLEMENTING YOUR PROPOSAL IS EXPECTED TO IMPACT CONSUMER DEMAND.
1. Describe the companys product or service using appropriate economic terminology. Questions to address include, but are not limited to: • What does your company produce? What utility or benefits does it provide to the consumer? How do consumers use it? • What is your companys history with this product or service? • What does the competition in the market look like for this product or service? • What actions has your company taken to remain competitive? • Does your company sell other products or services that could enhance this product or service? How well are they selling? 2. Provide one or more specific suggestions for price discrimination. • Which price discrimination technique(s) will you use? • In order for your proposal to generate more profits, will you recommend markup or margin pricing? Why? • What is the current price? What will be the new price? • How will consumers benefit from your proposal? 3. Explain how implementing your proposal is expected to impact consumer demand. • How will your proposal impact sales in the first three months? • How will your proposal impact sales within twelve months? • What would increased sales enable the company to do differently
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