marketing assignment 89

Just answer these not to long and not to short

Class Assignment 4 (Chapters 13 & 14)

  1. In Chapter 13, we learned about price elasticity of demand. It measures how sensitive consumer demand and the firm’s revenues are to changes in the product’s price. Explain the difference between a product with elastic demand and a product with inelastic demand.
  1. What factors determine price elasticity of demand?
  • In Chapter 14, there are four common approaches (orientation) to selecting an approximate price level. List and provide a brief description for each one.
  1. When is skimming pricing an effective pricing strategy?
  1. Explain why “odd-even pricing” may be successful as a pricing method.
  1. Give an example of yield management pricing and explain why it is used.