Consumer Emotions and Price Elasticity
I don’t understand this Economics question and need help to study.
- Assess your product/service in terms of price elasticity of demand:
- Is it elastic or inelastic?
- Support your answer with a clear rationale
- Describe the consumer’s emotional experience when using your product/service:
- What emotion does this product/service elicit from its users?
- What recommendations do you have for evaluating and improving its emotional impact?
- In the article The Last Mile, Soman argues leaders do not focus enough on where consumer decisions actually get made:
- What does the customer experience look like?
- What recommendations do you have for evaluating and improving the customer experience?
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