Suppose you are in charge of designing a TV commercial campaign for a new shampoo. What will be the goal of the campaign and your methods for achieving the goal? Explain by using the concepts of utility, price elasticity, and demand.
Draw the required curves using Microsoft Excel and prepare a Microsoft Word document containing the goals and the methods to achieve the goals.
The response address the queries posted in 825 words with references.
//This paper gives information on a TV commercial campaign for a new shampoo. Before creating a campaign, the goals of the campaign are necessary to be defined. //
As an in charge of designing a TV commercial campaign for a new shampoo, I will make the following goals for the campaign-
1. Create awareness and knowledge of new products in the mind of potential consumers- Awareness can be created to explain the utility of the commodity because a customer expects to derive utility from the commodity. Utility is the want-satisfying property of a commodity. But we should also consider the elasticity of demand because availability of substitute, nature of commodity, weight-age in the total consumption etc. Influence the elasticity of demand. Shampoo is nondurable good, so its demand is less elastic (Dwivedi, 2005).
2. To cope up with the changes in the demand of the consumer - In the age of technological advancement, preferences and taste of the consumers are changing. Now consumers are seeking for better products and services for their comfort and convenience (Kotler, 2002). So, new campaign for the shampoo should be according to the need of the consumer. Demand of the shampoo is less elastic because proportion of income spent is less, ...
The response addresses the queries posted in 714 Words and excel file, APA References