I have attached a copy of the question set as well so you can see the paper.I only need Question 1, 5, 9, 13, and 17 answered. If two pages double spaced inst enough please let me know. Thank you. 01. Explain (briefly) why exchange is the foundation of marketing and how this reality might help marketers when developing marketing programs. 05. Cite examples of how the technological and demographic components of the marketing environment might affect the ____________ industry (your choice of industry). 09. Why is every (or close to every) forecast wrong? Would this imply forecasts and forecasting are unnecessary? Why or why not? 13. Revenue maximization, cost minimization and market share leadership are three approaches to setting prices. Briefly discuss two and only two of these and note their strengths and weaknesses. Would skimming and/or penetration pricing be related to any of these? 17. What is price elasticity and what implications does it have for marketers? Make sure to discuss the effect of substitute goods. Identify and explain how one might assess the presence of either a very elastic or inelastic situation in terms of price without an equation! Finally, if Total Revenue went down each time you lowered price, would you have inelastic or elastic demand? Why?
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