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Essay Paper on Price-Elastic Products

Price Elastic product is a very paying proposition. It definitely can make a great profit. When you buy some product for almost a symbolic price and have an opportunity to sell it three times more expensive, will you refuse? And it is completely possible.

We all know that customers adore discounts. If they are offered a good discount most of them are ready to buy anything, even if they don’t need it at all. Selling a price elastic product you can make big discounts. For example, you buy some book for, let’s say, 2 dollars. And you offer it to the customer for 20. But he doubts. So you are ready to make a discount for him and give this book to him twice cheaper – for 10 dollars. The customer is happy and you have a good profit.

If it concerns some products that are much in demand, here we have another scheme. Let’s take such a product as Capri, which is very popular among women and teenagers. The business increases its supply of this clothing item due to its high demand. Thus if the product is being sold successfully it is normal that the prices start rising. For example, if at the beginning of your business you sell Capri for 10 dollars, then watching how sale is advancing you may increase the price for 12 dollars. It is beneficial business.

Before starting your own business you should calculate all possible expenses, assumed profit for selling your product, and approximate common income. I think that if today I began to work on starting my own business I would need about two months for finding quarters where I could accept customers and keep goods, acquiring necessary products, and advertising. Thus no later than on 1st of April my business would start its work.

Nevertheless it is a great responsibility, because no one can guarantee that goods you choose for selling will be popular. It is always risk to some extent. But as they say: ‘Nothing venture, nothing have’…

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