Market Demand & Price Elasticity Affect the Organization Memorandum
Description
Apply tenets of managerial economics to financial planning.
Scenario
In your role as a Business Process Consultant at Bryce-Kingston, you are creating a memo for the JBH Electronics senior leadership team. JBH is planning to launch new products in the next fiscal year. In addition, the team wants to understand how the market demand and price elasticity may affect the rollout of a new product that has been in development.
Do some research on how market demand and price elasticity has affected a Fortune 500 company. Your final memo will include a recommendation for JBH Electronics’ pricing strategy to mitigate negative impacts from price elasticity and market demand.
Instructions
You will create a memo for JBH senior leadership that outlines how market demand and price elasticity affect the organization’s pricing strategy in order to remain competitive. Select a Fortune 500 company in the electronics industry and address the following:
- Examine the company’s pricing strategy.
- Discuss how the company manages price elasticity.
- Evaluate how market demand influences a pricing strategy.
- Recommend a pricing strategy for JBH.
- Provide attribution for credible sources.
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