As part of the marketing team at Delta airlines, you must develop a strategy to increase demand
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Question:
As part of the marketing team at Delta airlines, you must develop a strategy to increase demand for flights between Kansas City and Detroit. You examine data from previous flights and determine that the existing demand for flights between the two cities is as given in the accompanying table.
Price per flight | Quantity demanded per day |
---|---|
$200 | 1,200 |
$300 | 1,100 |
$400 | 1,000 |
$500 | 900 |
$600 | 800 |
$700 | 700 |
a. Your team launches a viral advertising campaign that is so successful that all existing consumers increase their willingness to pay by $100, and 50 new customers demand flights at every price.
How will this affect the quantity demanded per day?
Price per flight | Quantity demanded per day |
---|---|
$200 | 1,350 |
$300 |
|
$400 |
|
$500 |
|
$600 |
|
$700 |
|
Related Book For
Business Statistics
ISBN: 978-0321925831
3rd edition
Authors: Norean Sharpe, Richard Veaux, Paul Velleman
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