Is alcohol advertising impacting the price and/or demand of alcohol?
Is alcohol advertising impacting the price and/or demand of alcohol?
Homework Answers
True,
It is true that the demand for alcohol comes under the inelastic demand because even there is a very high change in price, but the quantity demanded is very less affected
but if any company promotes its alcohol brand in some way like quality ,best taste etc. then it might create an edge over other competitors
since alcohol market is a monopolistic market because good is almost same but they are different in some way like brand ,quality , packaging ,etc
Hence the advertising play an important role in the the price or demand of alcohol
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Is alcohol advertising impacting the price and/or demand
of alcohol?
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