Question
Can someone please assist me on the best way to illustrate the price elasticity of demand for Nike footwear via a diagram for part b?
Can someone please assist me on the best way to illustrate the price elasticity of demand for Nike footwear via a diagram for part b?
a.Do some additional research and elaborate on Nike's past (2016 to 2019) investment strategies of direct-to-consumer (DTC) sales and other e-commerce initiatives that placed the firm in a relative strong (profitable) position in 2020. In your answer, elaborate on a process of creative destruction at play in this case.
b.Explain the effect of such strategies to enhance the loyalty of Nike footwear to its devoted consumers and therefore Nike's profitability. In your answer, illustrate with a discussion of the price elasticity of demand for Nike footwear.
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