Your company manufactures travel bags and is keen on establishing its presence in the Indian market. If you were given the responsibility to decide the pricing strategy the company should use, what would you decide? Explain your answer.

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A: Elasticity measures the responsiveness of quantity demanded with respect to changes in price.

Q: How much profit will it make at that lower price?

A: The table showing output and cost is as follows:

Q: Who are our competitors? What are their marketing strategies?

A:

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A: Elasticity = [(change in quantity) / (change in price)] * (P / Q) Here, Q = 90 Q’= 70 P= 2 P’= 3

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Q: a) b) = Monetary goal Strategic goal Developmental goal

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Q: e the situati

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