HALP! Marketing & Economics-type question

[blueerica]

After typing this all out, I realize that probably no one will be able to help me, but I am going to post this in the hopes that maybe there's a signpost I'm missing here. Plus, typing it out has made it a little more clear... but I still don't know where else to go with this take-home exam that's due this afternoon.

I'm sick of giving the same bullsh*t response time and time again for my Marketing Research class. Normally, I don't care too much and there's no "page requirement" so just giving the basics is no problem. For my take home exam, however, there's a one-page requirement for an answer that only took me a paragraph, that I broke into three tiny paragraphs, to answer. I figure I must be missing something, though it never came up in my homework that anything I ever put before was lacking.

The question, or rather "request," posed was "Interpret the results. Remember that the price elasticity of Tide is the % change in Tide sales divided by % change in Tide price." Which, gets a big duh from me.

All of this is based off of determining the average price, feature, and display coefficients using SPSS and a crapload of data on various laundry detergents. So, basically, I'm just talking about the elasticities in terms of sales compared to price, having a display, having a newspaper feature.

All I could respond with was the basic "blah, blah, blah" from my answer to an earlier question. Just the regular stuff about elasticity, etc... X% decrease in price = X% increase in units sold. Yada yada, same for feature and display...

Is there something more I should be talking about? I'm sure I'm missing something and will just go crazy over it... If no one knows what the heck I'm talking about, oh well. I figured I could at least post this and move on for a few moments. Maybe I'll even come up with more to say. If push comes to shove, I'll just submit the final without a full page. Bleh.

[blueerica]

I figure showing all the charts would be silly, but if someone really wants it, let me know.

But in a nutshell, I have three detergents: Tide, Wisk, and Surf. Three elasticities to come up with for each, price, "display" and "feature."

I still can't figure out what more to write. Maybe I should just make the font bigger... Really big.

[Ghoulish Delight]

Bad luck, my sister (MBA in marketing who I know has answered many such a question...involving laundry detergent, no less) is already checked into the hospital awaiting induced labor or I would have forwarded it to her.

[blueerica]

Well, I think she should stop all that she's doing to help me.






I'm actually figuring out other ways to put it and other things to say. But I'm not liking it, and it all reads like BS to me.

[blueerica]

Well, just so you know, I've been shoved down a path by BTD.

Thank you.

Case closed.

[Morrigoon]

Please post the entire question... I'll try to help you out (BS in Econ from USC here)

[Morrigoon]

I assume the path has something to do with substitution and "inferior" products?

[blueerica]

The charts weren't easy to do in terms of posting them here, so I just let it go in the hopes that something would spring forth, anyway.

What I did do is talk about strategies for improving sales, based on the three factors talked about. Which, is along the same vein that BTD was talking about with me, but the nudge in the general direction of competition kind of helped me move it into strategy, which is sort of the point as a marketer.

I didn't touch on 'inferior product', but I was thinking about it. I probably should have. Surf appeared to be the inferior product, and it would have taken an additional paragraph, at least.

The paper was finished and sent... onto studying for another final in an hour and a half.

Whee...

I am glad I posted this here.

[BarTopDancer]

I'm in ur gchatz rejectin ur math.

Glad I was able to help though!

[MickeyD]

I don't know where you live, but I drove by your house eight times this week.




What, you thought I came on here to be helpful?