Supply, Demand, and Elasticity (3-4 Slides)

• Briefly summarize recent trends in demand on both your company and the overall industry. (For example, if you have chosen Coca-Cola you would analyze the impact of trends in demand on both Coca-Cola as well as the market for soft drinks.)
• Who are the company's main competitors? Be sure to evaluate the non-price determinants of demand in this section.
• Which factors have an impact on consumer responsiveness to changes in the price of your company's goods and/or services? Would you consider the company's goods and/or services to be price elastic or price inelastic? Why?
• Be sure to cite the source(s) from which the information is based.
  • Recall: The Non-price determinants of demand
    • Consumer tastes and preferences
    • Consumer income (normal or inferior good?)
    • Expected future consumer income
    • Market population and demographics
    • Expected future prices of the goods
  • The company is Starbucks*