Eco 550 Assignment 3 Long-Term Investment Decisions

Assignment 3: Long Term Financial DecisionName: Institution:Long Term Financial DecisionOutline a plan that managers in the low-calorie, frozen microwaveable food company could follow in anticipation of raising prices when selecting pricing strategies for making their products response to a change in price less elastic. Provide a rationale for your response.In the competitive business environment, it is very difficult to attract customers and even more difficult to retain them. The easiest way of losing customers is through price elasticity, where customers respond drastically in the event that prices are changed. It is important to microwavable for microwavable food company to find strategies, which will ensure it pricing strategies, are effective and do no lead to price elasticity. The following are some of the strategies, which will help the company to achieve price inelasticity. Analysis of Market and Competition: It is very important for the company to understand its target market segment and the competition from other products and organizations offering the same or substitutable products CITATION McD07 \p 34 \l 1033 (McDonald, 2007, p. 34). Segmenting of Market: This involves deciding