Develop a 2-3 page executive memo for your boss. Include the following:
1. Describe the company’s product or service using appropriate economic terminology. Questions to address include, but are not limited to: • What does your company produce? What utility or benefits does it provide to the consumer? How do consumers use it? • What is your company’s history with this product or service? • What does the competition in the market look like for this product or service? • What actions has your company taken to remain competitive? • Does your company sell other products or services that could enhance this product or service? How well are they selling? 2. Provide one or more specific suggestions for price discrimination. • Which price discrimination technique(s) will you use? • In order for your proposal to generate more profits, will you recommend markup or margin pricing? Why? • What is the current price? What will be the new price? • How will consumers benefit from your proposal? 3. Explain how implementing your proposal is expected to impact consumer demand. • How will your proposal impact sales in the first three months? • How will your proposal impact sales within twelve months? • What would increased sales enable the company to do differently