Answered step by step
Verified Expert Solution
Question
1 Approved Answer
reword into billets for power point: Understanding Consumer Demand: Apple should continue to understand the needs and wants of its consumers. By analyzing consumer demand,
reword into billets for power point: Understanding Consumer Demand: Apple should continue to understand the needs and wants of its consumers. By analyzing consumer demand, Apple can make informed decisions about what products to produce, how many to produce, and at what price to sell them. For example, if they notice a high demand for a certain feature, they can incorporate it into their next product. Price Elasticity: Apple should understand the price elasticity of demand for its products. If the demand for Apple products is inelastic, it means consumers will continue to buy their products even if the price increases. Apple has been successful in maintaining a relatively inelastic demand due to its strong brand and unique product offerings
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started