Asked by Mackenzie Kiernan on Apr 29, 2024
Verified
After a massive promotional campaign of Justin Bieber's latest music album,the producers decided to raise the prices on the album.This implies that the producers expect the promotion to have made the demand for the album
A) More elastic
B) Unitary elastic
C) Perfectly elastic
D) More inelastic
Promotional Campaign
A series of advertisements or efforts aimed at increasing awareness or sales of a specific product or service.
More Inelastic
Describes a situation where the demand for a product or service is less responsive to changes in price.
- Ascertain the effect of advertising campaigns on the adaptability of consumer demand for products.
Verified Answer
SS
sydney sergotApr 30, 2024
Final Answer :
D
Explanation :
By increasing the price of the album, the producers expect that demand for the album to be more inelastic, meaning that consumers will still buy the album despite the price increase. This suggests that the promotional campaign was effective in creating a strong demand for the album, and that consumers are willing to pay more for it.
Learning Objectives
- Ascertain the effect of advertising campaigns on the adaptability of consumer demand for products.
Related questions
By Focusing the Customers on the Price of a Product,you ...
A Swiss Watch Company Advertises Its History of Superior Craftsmanship ...
A Discount Shoe Manufacturer's Advertisement Suggests That They Are Almost ...
Firms Should Lower the Prices on Their Goods ...
Which of the Following Are Ways of Promoting a Firm's ...