ECONOMICS: Price Sensitivity Measurements and Case Analysis
- Read the paper by Robert Lewis entitled “Price-Sensitivity Measurement” in blackboard (located in the Nestle & Carnation…” folder)
Explain the procedure and implement the procedure for a product of your choosing by asking a small number of fellow students or friends the required questions to implement the procedure. Implement the price-stress analysis. What do you conclude from your survey?
- Read/skim one of the two papers by Granger and Gabor placed on Blackboad. Review the economic discussion of price-sensitivity measurement in these papers and compare to the paper by Lewis and Shoemaker that you have previously read.
- Review the book by Schuman and Professor: Questions and Answers in Attitude Surveys: Experiments on Question Form, Wording, and Context (available at the library – don’t check this book out or your colleagues will not be able to do their homework). Discuss how question form, wording, and context would affect price sensitivity measurement. (Hint: You should be able to find enough online from this book without the library source.) (HINT: “Review of Schuman and Pressor Book” on Blackboard in the Nestle and Carnation folder should be good enough).
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