Reference no: EM132565042
Consumer Emotions and Price Elasticity
Using a core product or service at your company, address each of the following points:
Assess your product/service in terms of price elasticity of demand:
Question 1: Is it elastic or inelastic? Support your answer with a clear rationale
Question 2: Describe the consumer's emotional experience when using your product/service:
Question 3: What emotion does this product/service elicit from its users?
Question 4: What recommendations do you have for evaluating and improving its emotional impact?
In the article The Last Mile,?Soman?argues leaders do not focus enough on where consumer decisions actually get made:
Question 5: What does the customer experience look like?
Question 6: What recommendations do you have for evaluating and improving the customer experience?