Consumer Emotions & Price Elasticity
Using a core product or service at your company, read and reply to each of the prompts below:
- Assess your product/service in terms of price elasticity of demand:
- Is it elastic or inelastic?
- Support your answer with a clear rationale
- Describe the consumer’s emotional experience when using your product/service:
- What emotion does this product/service elicit from its users?
- What recommendations do you have for evaluating and improving its emotional impact?
- In the article, The Last Mile, Soman argues leaders do not focus enough on where consumer decisions actually get made:
- What does the customer experience look like?
- What recommendations do you have for evaluating and improving the customer experience?
Consumer Emotions & Price Elasticity
Using a core product or service at your company, read and reply to each of the prompts below:
- Assess your product/service in terms of price elasticity of demand:
- Is it elastic or inelastic?
- Support your answer with a clear rationale
- Describe the consumer’s emotional experience when using your product/service:
- What emotion does this product/service elicit from its users?
- What recommendations do you have for evaluating and improving its emotional impact?
- In the article, The Last Mile, Soman argues leaders do not focus enough on where consumer decisions actually get made:
- What does the customer experience look like?
- What recommendations do you have for evaluating and improving the customer experience?
Consumer Emotions & Price Elasticity
Using a core product or service at your company, read and reply to each of the prompts below:
- Assess your product/service in terms of price elasticity of demand:
- Is it elastic or inelastic?
- Support your answer with a clear rationale
- Describe the consumer’s emotional experience when using your product/service:
- What emotion does this product/service elicit from its users?
- What recommendations do you have for evaluating and improving its emotional impact?
- In the article, The Last Mile, Soman argues leaders do not focus enough on where consumer decisions actually get made:
- What does the customer experience look like?
- What recommendations do you have for evaluating and improving the customer experience? APA.