Discussion Post: Demand Elasticity
• View the following media:
o Supply and Demand
o Changes in Supply and Demand
• Then examine your own workplace or some other organization with which you are familiar and determine how it seeks to increase demand for its product.
• Navigate to the threaded discussion and post an entry that answers the following questions:
o How do firms attempt to stimulate demand (shift demand outward)? Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
o If a firm successfully builds brand loyalty for its products, what happens to the elasticity of the product? Hint: Think about consumers' views of substitutes. Defend your answer with a detailed evaluation that demonstrates clear, insightful critical thinking.
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.