A Particular Customer Requirement Is Associated with a Technical Requirement

question 74

Multiple Choice

A particular customer requirement is associated with a technical requirement, has an importance of 3, a target value of 1, and a sales point value of 3. The absolute weight of this customer requirement is ________.

• A) 9
• B) 45
• C) 6
• D) 90
• E) 81

Apply the concept of elasticity to determine the impact of price changes on total revenue.

Identify the segment of the demand curve where a firm should change its pricing strategy to increase revenue.

Distinguish between elastic, inelastic, and unit elastic demand.

Calculate the effect of price changes using the midpoint formula.