Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You were an analyst of a consultancy firm and preparing a market analysis of hard-shell suitcase for your client. The following information is collected
You were an analyst of a consultancy firm and preparing a market analysis of hard-shell suitcase for your client. The following information is collected for the analysis. News Extract 1 Covid-19 brings global travel to a standstill "The near-complete halt in travel and tourism worldwide has adversely affected the group's performance in the first quarter of 2020, and is expected to continue to impact our business." said Kyle Gendreau, chief executive officer of Samsonite International (modified from: https://www.scmp.com/business/companies/article/3084507/luggage- giant-samsonites-suffers-first-quarter-loss-us787) News Extract 2 Acrylonitrile Butadiene Styrene (ABS) is the main materials used to manufacture hard-shell suitcase. Thus, you refer to the following news extract. Cost Lowered, Inventory Rose, China ABS Market was in Bad Situation The domestic ABS market recorded price decreased to a certain extent. The mainstream offer price of general ABS was about 15,750 yuan /ton, down 18.18% from the beginning of December, 2020. (modified from: http://www.sunsirs.com/uk/detail_news-4044.html and with modification) Question 1 Considered the information of both News 1 and News 2, your analysis shows there is a drop in quantity sold in the hard-shell suitcase market. Draw one demand-and-supply diagram to illustrate the situation. No explanation is required.
Step by Step Solution
★★★★★
3.38 Rating (160 Votes )
There are 3 Steps involved in it
Step: 1
As per the information provided in News 1 and News 2 the demand for hardshell suitcases has decrease...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