Market Analysis Template: Instructions: Answer: Identify A S
Market Analysis Template: Instructions: Answer: Identify a specific good or service that you plan to analyze
Identify a specific good or service that you plan to analyze: Demand
Find a newspaper article that you can relate to demand for your product. Provide the following details:
- Title:
- Publication:
- Date:
- Link:
Summarize the article here.
Based on the information in your article, will demand for your product increase or decrease? Explain your reasoning.
Describe how changes in the following factors could affect the demand for your product, providing relevant examples where applicable:
- Changes in Consumer Incomes
- Changes in Preferences
- Changes in the Price of Related Goods (list items that are substitutes and complements)
- Changes in the number of buyers
- Changes in the expected future price of the product
Discuss the determinants of elasticity by explaining how the following could influence demand:
- Number of substitutes
- Necessities vs. luxury goods
- Time
Based on these elasticity determinants, do you believe the demand for your product is likely to be elastic or inelastic? Explain your reasoning.
Supply
Find a newspaper article related to the supply of your product. Provide these details:
- Title:
- Publication:
- Date:
- Link:
Summarize the article here.
Based on the article, will supply for your product increase or decrease? Explain your rationale.
Describe how changes in the following factors could influence the supply of your product, with relevant examples:
- Prices of relevant resources
- Technology
- Number of sellers
- Expectations of future price
- Taxes, subsidies, or government restrictions
Overall Analysis
Based on your analysis above, do you expect the price of this product to increase or decrease in the future? Explain your outlook.