Assignment 2: Utility, Elasticity, and Demand

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For this assignment, suppose that you are in charge of designing a product campaign for a new shampoo. 

Assignment Guidelines, Part 1

Prepare a 2-3 page paper in Microsoft Word to address the following:

  • Describe the ultimate goal of the product campaign for the new shampoo.
  • Discuss your methods for achieving this goal.
  • Identify the components of marketing, pricing, and distribution for the campaign.
  • Include in your response a discussion and analysis of the concepts of utility, price elasticity, and demand.

Assignment Guidelines, Part 2

Using Microsoft Excel:

 

  • Prepare a graph which illustrates the desired effect of the marketing campaign as a shift in market equilibrium with reference to price and quantity adjustments.
  • Prepare another graph to illustrate how a change in consumer utility affects the price elasticity of demand.
  • Copy and paste or import these graphs into the MS Word document you prepared in Part 1 of this assignment.
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