What type of price elasticity and income elasticity does

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Reference no: EM133488096

Question 1.Where do consumers get information about the price and characteristics of the product/service? How much uncertainty is associated with the information about price and associated quality of the good/service?

Question 2.Who specifically is on the demand side of your market and what are their characteristics?

Question 3.What type of price elasticity and income elasticity does your product or service have? (inelastic/elastic and necessity/luxury/inferior)

Question 4.What other goods/services if any influence demand in your market? Identify main substitutes and main complements

Question 5.Who are the suppliers in your market, what are their characteristics? (large/small, local/regional/nation/international, profit/not-for-profit/government)

Question 6.What is the extent and nature of the competition in your market? (intense competition with multiple competitors or does it have some monopoly-like qualities?)

Question 7.Are there essential inputs in the production/delivery or your product/service? Are these essential inputs easily available? If not, why?

Question 8.Any Regulation and Taxation that affect your market?

Question 9.Are there any Government - sponsored Programs in your market?

Question 10.What is the impact of government activity in your market in terms of efficiency?

Question 11.Does the government improve efficiency by helping with a market failure (information asymmetry, monopoly) or reduce efficiency (but help with equity, tax revenue etc.)?

Question 12.What demographic changes do you predict in the demand relevant to your industry?

Question 13.What general technology change do you predict may impact your industry?

Question 14.What other significant changes do you predict might happen in the future decade -in the political and economic environment relevant to your industry - with regard to (a) demand and pricing; (b) supply and market structure?

Reference no: EM133488096

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