Determine the concept of elasticity of demand, Marketing Management

Assignment Help:

Determine the Concept of elasticity of demand

Decision-making point of view, though, the knowledge of only the nature of relationships isn't sufficient. What is more significant is the extent of relationship or degree of responsiveness of demand to changes in its determinants. Responsiveness of demand for a good to the change in its determinants is known as the elasticity of demand. Concept of elasticity of demand was introduced into the economic theory by Alfred Marshall. Elasticity concept plays a vital role in various business decisions and government policies. 


Related Discussions:- Determine the concept of elasticity of demand

State the concept of product and its classification, State the Concept of p...

State the Concept of product and its classification Product refers to the goods and services which are offered by organisation for sale. Here the marketers have to recognise th

Promotion, Promotion Modern marketing calls for more than only develop...

Promotion Modern marketing calls for more than only develop a good product, pricing it pleasingly, and making it available to focused customers. Companies ought to also commun

The constituents of the marketing communications mix, The constituents of t...

The constituents of the marketing communications mix Business-to-business markets have usually been quite specific in terms of the promotional tools and media used to target

Message contents of advertisement, Q. Message contents of advertisement? ...

Q. Message contents of advertisement? a) What ads. Needs to communicate to targeted audience through advertisement copy. b) Message is regarding:- c) High quality of prod

Enumerate about the marketing communications, Enumerate about the marketing...

Enumerate about the marketing communications Origin of many definitions rests with a promotional outlook, where purpose was to use communications to persuade people to buy serv

Definition, what do you understand by marketing management? explain its imp...

what do you understand by marketing management? explain its importance in modern business world

Market segmentation, Market Segmentation This provides to the procedure...

Market Segmentation This provides to the procedure of breaking the mass market up into discernible subgroups, where each subgroup has obvious demographic and another identifiab

Brand policies and strategies adapted by the middleman, Brand policies and ...

Brand policies and strategies adapted by the middleman: it includes the following two policies: Use of brand of manufacture only: under this policy, the middlemen sell the prod

Explain the purpose of internal marketing, Question: (a) Explain the p...

Question: (a) Explain the purpose of internal marketing. (b) Identify the three levels organizational culture and discuss the importance organizational culture for successf

State the term product according to jerome mccarthy, State the term product...

State the term product according to Jerome McCarthy "A product is more than just a physical product with its associated functional and aesthetic features. It comprises accessor

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd