Chapter 87 Estimating a demand curve
Questions answered in this chapter:
What do I need to know to price a product?
What is the meaning of elasticity of demand?
Is there any easy way to estimate a demand curve?
What does a demand curve tell us about a customer’s willingness to pay for our product?
Every business must determine a price for each of its products. Pricing a product properly is difficult. In Chapter 88, “Pricing products by using tie-ins,” and Chapter 89, “Pricing products by using subjectively determined demand,” I’ll describe some simple models that might aid you in pricing a product to maximize profitability. For further insights into pricing, refer to the excellent book Power Pricing, by Robert J. Dolan and Hermann Simon (Free ...
Get Microsoft Excel 2019 Data Analysis and Business Modeling, 6th Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
