Using a Graph,explain How an Increase in Technology Will Affect

question 17

Essay

Using a graph,explain how an increase in technology will affect the equilibrium price and quantity of DVD players.Again using a graph,explain what happens in the market for video cassette recorders.

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Definitions:

Brand Extension

A marketing strategy where a company uses an existing brand name to introduce a new product or category to the market, leveraging the existing brand's equity.

Retailer

A business or person that sells goods directly to consumers, typically operating from a physical or online store.

National Brand

Products or services that are marketed under a manufacturer's branding and distributed across an entire country, distinct from private labels or local brands.

Private-label Brand

Products manufactured by one company for sale under another company's brand, typically offered as lower-cost alternatives to national brands in retail stores.