Examples of selective demand in the following topics:
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- Market share is key metric that helps firms evaluate demand in their market and can be influenced by PR and marketing campaigns.
- This metric, supplemented by changes in sales revenue, helps managers evaluate both primary and selective demand in their market.
- Selective demand refers to demand for a specific brand while primary demand refers to demand for a product category.
- It enables a company to judge not only total market growth or decline, but also trends in customers' selections among competitors.
- The price reduction is intended to increase demand from customers who are judged to be sensitive to changes in price.
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- This metric, supplemented by changes in sales revenue, helps managers evaluate both primary and selective demand in their market.
- It enables them to judge not only total market growth or decline, but also trends in customers' selections among competitors.
- Generally, sales growth resulting from primary demand (total market growth) is less costly and more profitable than that achieved by capturing share from competitors.
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- The income elasticity of demand measures the responsiveness of the demand for a good or service to a change in income.
- The income elasticity of demand (YED) measures the responsiveness of demand for a good to a change in the income of the people demanding that good, ceteris paribus.
- Negative income elasticity of demand (YED<0): An increase in income is accompanied by a decrease in the quantity demanded.
- The consumer may be selecting more luxurious substitutes as a result of the increase in income.
- Income elasticity of demand measures the percentage change in quantity demanded as income changes.
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- The existence of market power is tied to the demand conditions the firm faces.
- A negatively sloped demand function (less than perfectly elastic) allows the firm to raise its price and not have its sales fall to zero.
- Advertising can be used to differentiate a product or increase the demand for a product.
- The crucial factor is the demand for the firm's output must be negatively sloped: the firm becomes a "price maker."
- Note that when the seller selects a price (price maker) the demand function determines the quantity that will be purchased.
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- While a perfectly competitive firm faces a single market price, represented by a horizontal demand/marginal revenue curve, a monopoly has the market all to itself and faces the downward-sloping market demand curve.
- An important consequence is worth noticing: typically a monopoly selects a higher price and lesser quantity of output than a price-taking company; again, less is available at a higher price.
- Imagine that the market demand for widgets is Q=30-2P.
- This says that when the price is one, the market will demand 28 widgets; when the price is two, the market will demand 26 widgets; and so on.
- Price, however, is determined by the demand for the good when that quantity is produced.
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- Partial equilibrium is the analysis of the equilibrium conditions in a single market (or a select subset of markets in a market system).
- The behavior of potential buyers is represented by a market demand function.
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- The market-clearing wage is the wage at which supply equals demand; there is no excess supply of labor (unemployment) and no excess demand for labor (labor shortage).
- Selection: If job performance depends on workers' ability and workers differ from each other in those terms, firms with higher wages will attract more able job-seekers, and this may make it profitable to offer wages that exceed the market clearing level.
- Instead of market forces causing the wage rate to adjust to the point at which supply equals demand, the wage rate will be higher and supply will exceed demand.
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- For example, students may adopt a strategy of selective negligence. within the first month of classes, many students discover they cannot conceivably complete all the work assigned them; consequently, they must selectively neglect portions of the formal schoolwork.
- According to Snyder, the hidden curriculum goes beyond the explicit demands of the formal curriculum.
- For example, students may adopt a strategy of selective negligence.
- Within the first month of classes, many students discover they cannot conceivably complete all the work assigned them; consequently, they must selectively neglect portions of the formal schoolwork.
- Students may feel frustration and anger at professors who deny them high grades, who object to creativity, and who demand that students fall in line with the hidden curriculum.
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- In the 1930's the "kinked demand" model [published by Paul Sweezy in August 1939 and by R.L.
- Figure VIII.6 is a graphical representation of the demand and revenue functions of a firm in a oligopoly that is modeled as a kinked demand.
- The demand function relative to price cuts in inelastic; cut price and TR falls.
- The demand above the prevailing price is relatively elastic; raise price and TR falls.
- When analyzing a market, it is not a mater of selecting and applying one of the market models presented in principles of microeconomics.
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- In addition to applying the various learning styles discussed in previous ebook chapters, trainers/facilitators in such environments need to have a working skill set to meet the demands of fast-paced, changing environments.
- The most significant trend that continues to make an impact on facilitators is the demand for the incorporation of technology into the content and delivery of professional development (King, 2003).
- The basics of design and delivery - needs assessment, developing objectives, creating an agenda, selecting appropriate activities, providing for transfer, and designing and conducting evaluation activities
- The ability to read the context, assess needs, and select or create appropriate mini-learning sessions that are often delivered as just in time learning