Imagine you are a product manager who wants to analyze the market response for your product,...

  

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Imagine you are a product manager who wants to analyze the market response for your product, a face wash. a) There are many factors that influence the demand for this product which could be regarded as independent variables or the marketing activities. Using suitable examples, describe the three (3) potential variables. (3 marks) b) A typical dependent variable of a market response function is demand or its sales volume. Suggest two more variables. Imagine you are a product manager who wants to analyze the market response for your product, a face wash. a) There are many factors that influence the demand for this product which could be regarded as independent variables or the marketing activities. Using suitable examples, describe the three (3) potential variables. (3 marks) b) A typical dependent variable of a market response function is demand or its sales volume. Suggest two more variables.

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VARIABLES OF DEMAND They include The price of the good or service The income of buyers Taste Price The law of demand states that when prices rise the ... View the full answer