(Please use the CoreLogic’s Property Tax Estimator as the
product for this discussion posts for Week 5 & Week 6)Attached are the documents needed to complete Week 5 Discussion PostPlease include references
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week_5___week_6.docx
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Week 5 Discussion Post
(Please use the CoreLogic’s Property Tax Estimator as the product for this discussion posts for Week 5 &
Week 6)
Utility and Supply & Demand
In preparation for Assignments 2 and 3: Using a product or service at your company or one that you are
familiar with, address each of the following points in regards to its nature, utility, and supply & demand:
Describe the product/service in terms of its nature using the terminology and concepts learned this
week. For example, is it an inferior, normal, or luxury product or service? What are its substitutes, if
any? What are its complements, if any?
Describe this product/service in terms of the utility it provides to buyers and/or its users. Name one (1)
strong utility feature and one (1) weak utility feature. Explain why you think your customers keep
coming back to you and not your competitors.
Describe one (1) factor that has shifted Demand (p. 24 in Microeconomics Made Simple) OR one (1)
factor that has shifted Supply (p. 34 in Microeconomics Made Simple) of this product/service within the
last year.
Week 6
Product Analysis
In preparation for Assignments 2 and 3: Using a product or service at your company or one that you are
familiar with, address each of the following points:
Assess your product/service in terms of price elasticity of demand. Is it elastic or inelastic (support your
decision with rationale)?
Consider the product/service from its emotional perspective.
What emotion does this product/service elicit from its buyers or users (if different)?
What recommendations do you have for evaluating and improving its emotion(s)?
Consider the product/service from the Last Mile perspective.
What does the customer experience look like?
What recommendations do you have for evaluating and improving this experience?
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