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Terry
0450-20-M-J-11-1d
Chan
TOPIC QUESTION - PAPER 1
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Chan
May 17, 2026 at 7:36:22 AM
May/June 2020
Version 1
3.0 Marketing
3.3 Marketing Mix
YOUR ANSWER
Kara should consider if her new price is higher than her competitors. This is because, if her wax candles were overpriced, retailers may prefer to buy from her competitors.
Kara should also consider the price elasticity of demand of her wax candles. If it was less elastic, Kara could raise prices without reducing a lot of demand. However, if it was elastic, increasing prices will reduce the demand significantly, and she may not achieve $50,000 revenue like last year.
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