ASU MKT 300
Arizona State University
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ASU MKT 300 EATON EXAM 4
- Other • 9 pages • 2024
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Internal/External Factors of Price - Answer-Internal Factors of Price:
1. Marketing Objective
2. Marketing Mix Strategy
3. Cost
External Factors of Price:
1. Demand for your product.
2. Competition
3. Economy
Price Elasticity - Answer-Elastic - Consumers buy more or less of a product when the price changes
Inelastic- An increase or decrease in price will not significantly affect demand
What happens to price/revenue when the demand is elastic/inelastic - Answer-Demand is... Pr...
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ASU MKT 300 EATON EXAM 4
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Internal/External Factors of Price - Answer-Internal Factors of Price: 1. Marketing Objective 2. Marketing Mix Strategy 3. Cost External Factors of Price: 1. Demand for your product. 2. Competition 3. Economy Price Elasticity - Answer-Elastic - Consumers buy more or less of a product when the price changes Inelastic- An increase or decrease in price will not significantly affect demand What happens to price/revenue when the demand is elastic/inelastic - Answer-Demand is... Pr...
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