Elasticity of Demand Discussion paper

Elasticity of Demand Discussion paper

Hi, this will be my discussion for the week. I am working on a company review for The Walt Disney Company using the company’s 2021 annual report. As part of the instructions, the Discussion should have two to three paragraphs and a minimum of 3 references. The full question is below:

Review the determinants of demand and the elasticity of demand for the product(s) and/or services of your company. Relate the projection of future demand to the strategic plan of your company, and any other previous sections of the paper being produced.

I’m working on a marketing discussion question and need an explanation and answer to help me learn.

You work for a marketing agency advising a client considering whether to drop prices during an economic downturn. The client, a manufacturer of children’s outdoor swing sets, believes that reducing prices would lead to more sales. The client is aware that lower prices would yield less revenue per sale. However, the client is unaware of any other possible negative consequences of dropping prices. In an essay: advise the client of some of those possible consequences. Include a description of the psychological issues at play in dropping a brand’s price.

Identify and evaluate price-adjustment strategies beyond a straightforward reduction in retail price that the client should consider.

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