Inelastic Demand There Are Many Term Paper

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When products mature rapidly in the face of additional competitors and increasing attractiveness of alternatives, price inelasticity sets in quickly. When a product has become price inelastic, companies may drop the price 40% or more hoping to find a new price elasticity curve on which to complete on. This strategy rarely works, forcing companies to create entirely new generations of product rapidly in order to gain pricing elasticity in their industries by having superior benefits delivered with their products.

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Price inelasticity, in the short-term however forces many companies to pursue promotional and distribution strategies to compensate for the lack of volume increases based on price reductions.

Reference:

Thompson Learning (2007) - From lectures at the German University of Cairo, MBA Program, based on Chapter 5 of the South-Western/Thompson Learning book. Accessed from the Internet on July 21, 2007 from location:

http://mgt.guc.edu.eg/MBA/documents/global_economics/Chap05.pdf.....

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