Price Elasticities: how to use them to steer pricing decisions
ScanmarQED
OCTOBER 3, 2023
What is price elasticity? The relationship (correlation) between the price change and the following change in volume sales is what can be expressed in a number: price elasticity. Keep in mind that the price elasticity is not 1 fixed number for a product; at each price point the number may be different. But by how much?
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