Price elasticity of demandIncome elasticity of demand

Cross-price elasticity of demandAdvertising elasticity of demand

ELASTICITY

Refers to the tecnique of measuring the degree of responsiveness of quantity demanded due to change in a specific factor that affects demand

Price elasticity Measures the extent to which demand for a

product changes due to change in its price.

Price elasticity

If there is a small change in quantity demanded following a change in price, then demand is said to be price inelasticDemand is said to be price elastic if there is a large change in demand due to a price change

Elasticidad del precio

Precio inelástico Precio elástico

Income elasticityMeasures the degree of responsiveness of

demand for a product following a change in the income level of consumers

Cross-price elasticityMeasures the degree of responsiveness of

demand for one product due to a change in the price of another product, such as substitutes or complements

Elasticidad cruzadaEj: si el precio de la cámara digital

SAMSUNG baja, la demanda de SONY bajará tb.

Elasticidad cruzada: Sustitutos

Advertising elasticityMeasures the degree of responsiveness of

demand for a product following a change in the advertising expenditure for that product

Relación de la elasticidad con el ciclo de vida del producto

El producto pasa por su ciclo de vida y su precio puede ser adaptado y cambiado en cada etapa. ej: Navidad

Lanzamiento: Producto nuevo , costos y precios relativamente altos. Precio inelástico

Crecimiento: La demanda crece, precio baja un poco. Va siendo de inelástico a elástico

Relación de la elasticidad con el ciclo de vida del producto

Madurez: Clientes son más sensitivos a los precios. Estrategias de marketing

Saturación: Clientes son muy sensitivos a los precios. Bajos precios

Declive: Precios bajan extremadamente