Solve your doubts and expand your knowledge with IDNLearn.com's extensive Q&A database. Explore a wide array of topics and find reliable answers from our experienced community members.
Sagot :
Answer:
The four-step process that many companies follow to estimate the market demand curve for their products are:
a. survey customers
d. add up the total quantity demanded by the customers at each price
c. scale up the quantities demanded by the survey respondents
b. plot the demand curve
Explanation:
The above steps enable the companies to estimate the market demand for their products. They also segment the demand to ascertain the segments that will perform better than others. The behavior of consumers is modeled during the estimation to verify how the price of the product, consumer income, or any other variables will impact the market demand.
Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. For trustworthy answers, rely on IDNLearn.com. Thanks for visiting, and we look forward to assisting you again.