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q show the long term goals - demand forecastlong term goals if the demand forecast period is more than a year in that scenario its termed as long
determine the income effect of law of demandas a result of fall in the price of a commodity real income of its consumer increase at least in terms of
appropriate management of sales demand forecasts are made area wise and after that sales targets for various areas are set in view of that this helps
drafting of price policy demand forecasts assist the management to prepare a few appropriate pricing systems so that level of price doesnt fall and
drafting of production policy demand forecasts assists in drafting appropriate production policy so that there may not be any space between future
market research operations to obtain reliable and relevant information about the trends in market a data analysing and processing system to estimate
substitution effect on law of demandwhen price of a commodity falls it becomes comparatively cheaper if price of all other related goods particularly
because of the complex and dynamic nature of marketing phenomenon demand forecasting has become a regular and significant business exercise it is
why does the demand curve slope downwardsas figure above demonstrates demand curve slopes downward to the right downward slope of the demand curve
determine the law of demand curvethe law of demand can also be presented through a curve known as demand curve demand curve is a locus of points
demand schedulethe law of demand can be explained through a demand schedule a demand schedule is a series of quantities that consumers would like to
advertising expenditure must remain the sameif advertising expenditure of a firm increases consumers may be tempted to buy more of its product hence
price rise in future must not be expected - law of demandif the buyers of a commodity expect that its price will increase in future they raise its
q can you explain about demand forecastingdemand forecasting involves forecasting and estimating the quantity of a service or product that consumers
no new substitutes for the commodityif some new substitutes for a commodity appear in the market its demand normally declines this is quite natural
q proportion of market supplied - determinants of demandprice elasticity of market demand moreover relies on the proportion of market supplied at the
broader the range of other uses of a commodity higher the price elasticity of its demand intended for the fall in price though less elastic for the
prices of other goods must remain constantchanges in the prices of other goods frequently impinge on the demand for a particular commodity if prices
tastes of the buyer must not alterany alteration which takes place in the taste of consumers will in all probability thwart the working of the law of
how income level must remain constant - law of demandthe law of demand operates only when income level of the buyer remains constant if income rises
q time factor for determinants of demandprice-elasticity of demand depends moreover on the time that consumers take to adjust to a new price longer
q proportion of income spent on a commodityanother characteristic that has an impact on the elasticity of demand for a commodity is proportion of
q what is the nature of commodity the nature of a commodity as well has an effect on the price elasticity of its demand commodities can be
determine the concept of law of demandwe have considered numerous factors which fashion the demand for a commodity as explained the first and most
q availability of substitutes - determinants of demandone of the most important determinants of elasticity of demand for a commodity is availability