selective demand

(noun)

The demand for a specific product brand.

Related Terms

  • primary demand
  • Market Share

Examples of selective demand in the following topics:

  • Market Share

    • Market share is key metric that helps firms evaluate demand in their market and can be influenced by PR and marketing campaigns.
    • This metric, supplemented by changes in sales revenue, helps managers evaluate both primary and selective demand in their market.
    • Selective demand refers to demand for a specific brand while primary demand refers to demand for a product category.
    • It enables a company to judge not only total market growth or decline, but also trends in customers' selections among competitors.
    • The price reduction is intended to increase demand from customers who are judged to be sensitive to changes in price.
  • Market Share

    • This metric, supplemented by changes in sales revenue, helps managers evaluate both primary and selective demand in their market.
    • It enables them to judge not only total market growth or decline, but also trends in customers' selections among competitors.
    • Generally, sales growth resulting from primary demand (total market growth) is less costly and more profitable than that achieved by capturing share from competitors.
  • Income Elasticity of Demand

    • The income elasticity of demand measures the responsiveness of the demand for a good or service to a change in income.
    • The income elasticity of demand (YED) measures the responsiveness of demand for a good to a change in the income of the people demanding that good, ceteris paribus.
    • Negative income elasticity of demand (YED<0): An increase in income is accompanied by a decrease in the quantity demanded.
    • The consumer may be selecting more luxurious substitutes as a result of the increase in income.
    • Income elasticity of demand measures the percentage change in quantity demanded as income changes.
  • Introduction to Firms with "Market Power"

    • The existence of market power is tied to the demand conditions the firm faces.
    • A negatively sloped demand function (less than perfectly elastic) allows the firm to raise its price and not have its sales fall to zero.
    • Advertising can be used to differentiate a product or increase the demand for a product.
    • The crucial factor is the demand for the firm's output must be negatively sloped: the firm becomes a "price maker."
    • Note that when the seller selects a price (price maker) the demand function determines the quantity that will be purchased.
  • Monopoly Price and Profit

    • While a perfectly competitive firm faces a single market price, represented by a horizontal demand/marginal revenue curve, a monopoly has the market all to itself and faces the downward-sloping market demand curve.
    • An important consequence is worth noticing: typically a monopoly selects a higher price and lesser quantity of output than a price-taking company; again, less is available at a higher price.
    • Imagine that the market demand for widgets is Q=30-2P.
    • This says that when the price is one, the market will demand 28 widgets; when the price is two, the market will demand 26 widgets; and so on.
    • Price, however, is determined by the demand for the good when that quantity is produced.
  • Introduction to Demand and Supply in a Market System

    • Partial equilibrium is the analysis of the equilibrium conditions in a single market (or a select subset of markets in a market system).
    • The behavior of potential buyers is represented by a market demand function.
  • Efficiency Wage Theory

    • The market-clearing wage is the wage at which supply equals demand; there is no excess supply of labor (unemployment) and no excess demand for labor (labor shortage).
    • Selection: If job performance depends on workers' ability and workers differ from each other in those terms, firms with higher wages will attract more able job-seekers, and this may make it profitable to offer wages that exceed the market clearing level.
    • Instead of market forces causing the wage rate to adjust to the point at which supply equals demand, the wage rate will be higher and supply will exceed demand.
  • The Hidden Curriculum

    • For example, students may adopt a strategy of selective negligence. within the first month of classes, many students discover they cannot conceivably complete all the work assigned them; consequently, they must selectively neglect portions of the formal schoolwork.
    • According to Snyder, the hidden curriculum goes beyond the explicit demands of the formal curriculum.
    • For example, students may adopt a strategy of selective negligence.
    • Within the first month of classes, many students discover they cannot conceivably complete all the work assigned them; consequently, they must selectively neglect portions of the formal schoolwork.
    • Students may feel frustration and anger at professors who deny them high grades, who object to creativity, and who demand that students fall in line with the hidden curriculum.
  • Oligopoly

    • In the 1930's the "kinked demand" model [published by Paul Sweezy in August 1939 and by R.L.
    • Figure VIII.6 is a graphical representation of the demand and revenue functions of a firm in a oligopoly that is modeled as a kinked demand.
    • The demand function relative to price cuts in inelastic; cut price and TR falls.
    • The demand above the prevailing price is relatively elastic; raise price and TR falls.
    • When analyzing a market, it is not a mater of selecting and applying one of the market models presented in principles of microeconomics.
  • Toolkit for Facilitators of Adult Learning

    • In addition to applying the various learning styles discussed in previous ebook chapters, trainers/facilitators in such environments need to have a working skill set to meet the demands of fast-paced, changing environments.
    • The most significant trend that continues to make an impact on facilitators is the demand for the incorporation of technology into the content and delivery of professional development (King, 2003).
    • The basics of design and delivery - needs assessment, developing objectives, creating an agenda, selecting appropriate activities, providing for transfer, and designing and conducting evaluation activities
    • The ability to read the context, assess needs, and select or create appropriate mini-learning sessions that are often delivered as just in time learning
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