VoltVibe, a new entrant in the electric bike industry, has l…

VoltVibe, a new entrant in the electric bike industry, has launched a sleek commuter bike. Marketing has invested heavily in ensuring the product quality of all components of the bike, distributing the bike through higher-end specialty bike retailers, and communicated a lifestyle branding that emphasizes its urban aesthetic through social media testimonials and a “freedom to ride” campaign that frames the bike as part of a modern, eco-conscious identity.  Based on the value-oriented pricing thermometer concept, VoltVibe is able to charge $2000 per bike because of marketing’s efforts to influence ____________ .

As West Elm begins to further assess sensitivity to price ch…

As West Elm begins to further assess sensitivity to price changes, select the correct response for each statement below, which correctly describes the direction of revenue relative to price and demand elasticity. Read each choice very carefully and make your selection carefully. As price goes up and demand is relatively elastic, revenue [elasticity1]. As price goes up and demand is relatively inelastic, revenue [elasticity2]. As price goes down and demand is relatively inelastic, revenue [elasticity3]. As price goes down and demand is relatively elastic, revenue [elasticity4]. As price goes down and demand is “unitary elastic”, revenue [elasticity5].