price inelastic Flashcards
1
Q
1
A
Stronger brand image
2
Q
2
A
differentiate from its competitors
3
Q
3
A
Consumers more loyal to the brand
4
Q
4
A
Leading to products becoming more price inelastic
5
Q
5
A
Therefore can charge higher prices without a significant fall in demand
6
Q
6
A
leading to increased revenue
7
Q
7
A
Leading to increased gross profit margin
8
Q
8
A
Increased operating profit/ retained profit / total equity
