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Economic theory teaches that price and demand are inversely related. As a product’s price increases, demand for the item drops. A drop in the market price almost always leads to an increase in demand. While economic theories depend on ‘all things being equal’, the idea of price and demand carries over to the retail sector.
You know advertising is vital to a business when a thirty-second spot during the Superbowl has no shortage of buyers, even with its multi-million dollar price tag. All consumers reached through ads have the potential to become buyers. Understanding who makes household purchase…
Before launching The Stevenson Company in 1995, President and CEO Dave Stevenson managed worldwide research for product development, distribution, advertising, and customer satisfaction. His roles, first as head of the marketing section of General Motors’ worldwide product planning group, and later as director of GE Appliances’ global economics and market research team, give him extensive experience in consumer as well as business to business marketing solutions. Mr. Stevenson holds a Ph.D. in statistics from Southern Methodist University.