Description
How would you estimate the demand of a new sports product? Of the three demand factors, which do you think is the most critical in estimating demand?
Consumer price elasticity may be described in one of three ways: elastic demand, inelastic demand, or unitary demand.
250 words minimum
Explanation & Answer
Please view explanation and answer below.
Running Head: SPORT MANAGEMENT
1
ESTIMATION OF DEMAND
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SPORT MANAGEMENT
2
We can follow several methods to estimate the demand for new sports products (Gandhi et al.,
2020). The ways include using past sales for the same products, data from the pay per clicks
adverts, and industry benchmarks for adverts. Usi...
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