Business Proposal Eco/561

895 Words4 Pages
Business Proposal Nicole Iglesias ECO/561 August 3, 2015 Matthew De Point Business Proposal This business proposal will identify the market structure, price elasticity of the Will Bury products, and changes in the business operations. Will Bury is an enterprising inventor of the digital book reader such as the Nook, and Kindle. His invention is a device that transforms printed material into digitally and converts it into an audio format with a realistic synthetic voice. Market Structure Will Bury is a newly inventor trying to compete in a monopolistic competitive market dealing with his new digital product. For the past few years, there has been the advancement in the digital media so Will kept that in mind and developed a technology that he felt would be different than the rest out there. Because he realizes he would be competing with similar technology such as Apple, Google, and Amazon in the same market. Elasticity of the Product…show more content…
The price elasticity is important in business because it refers to the change in quantity demanded to the change in the price of a service or product. Elastic demand is a change in the price of the service or goods that can affect the demand. Will Bury product is different, and the success of his product can assume that the price can be elastic for his product. In the market, there are similar products that are available for different prices the lower the price may work out better in attracting new buyers. However, in Will Bury situation he may have to raise prices and sell more items to bring in more
Open Document