Assignment 2: Utility, Elasticity, and Demand
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.
Remember, quotations, paraphrases, and ideas you get from articles, or other sources of information should be cited using APA style.