Price Elasticity - Friedel Evelyn
Price Elasticity - Friedel Evelyn Price is a fundamental profit driver. Very small price changes translate into enormous changes in profit. It is by far the most sensitive profit lever that managers…
Specifikacia Price Elasticity - Friedel Evelyn
Price Elasticity - Friedel Evelyn
Price is a fundamental profit driver. Very small price changes translate into enormous changes in profit. It is by far the most sensitive profit lever that managers can influence.
Not only the knowledge about the magnitude of price elasticity, but also the knowledge about the determinants influencing the price reaction is essential. Price elasticity indicates how sensitively consumers react to price changes. It is crucial for the development of a successful marketing strategy to understand how price elasticities vary with market and product characteristics.
Reflecting the academic and managerial need, the objective of the research is to gain a comprehensive understanding in two main areas, the magnitude of price elasticity and the determinants of price