Choose a product you buy on regular basis (something you buy more than 4x per year). Think about how the supply and demand changes based on things like seasons, price, advertising/media, etc.

1-What is the product, where and how often do you buy it?

2-Which one of the four patterns does the product fit into or does it have more than one pattern? (Trend, Seasonal, Cyclical, or Trend with Seasonality? Please explain why.

3-Now, considering the pattern(s) that you chose, how might the product owner (manufacturer, store, and/or business) handle the changing demand by using internal methods described in the reading and from your own research?

4-How about external methods?

5-What do you think are the biggest factors that influence demand for the product you chose? For example, if I chose snow skis, demand varies all year because snow melts in spring in the Northern hemisphere.

Answer rating: 100% (QA)

1 The product I buy on a regular basis is coffee I buy it approximately twice a month from a local grocery store 2 Coffee fits into the Trend with Seasonality pattern While there is a general upward t... View the full answer