Good contemporary summary of how Price Elasticty of Demand works in markets
Price Discrimination: Co's are more competitive (read: charge lower prices) in a market where demand sensitivity to price changes is higher.
"Perfect" substitutes (commodities like milk, chicken, eggs, gas) are less common as marketing differentiates all (ie. via "Oganic", "Californian", "Eco", etc.)
Modern market segment analysis informs decisions on customer targeting and product/service/price mix.
I was an early adopter of PC technology. My parents would be considered laggards.
Note chasm. Breach past that and you have achieved popular market acceptance.
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