Carla Davis--Week 3 Team Assignment.docx

Carla Davis--Week 3 Team Assignment.docx - 1 Factors that...

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1 Factors that Affect Demand, Supply, and Prices The supply and demand for the food our organization offers as well as the prices of these foods can be affected by a few factors. One of these factors is the production cost. While we do have to focus on having good quality ingredients for our new product, we also have to ensure that the ingredients are also affordable enough for us to be able to maintain the product’s price in an amount that is affordable for the consumer. If the production cost is too expensive, then it is going to be impossible to maintain the product at a reasonable price and make a decent profit from it as well. The demand for fast food overall can be affected by the current economic situation of the population. While we as a fast food restaurant have the advantage of things such as our “Dollar Menu” to help us keep customers during an economic downturn in the community, there is not much we can do when that brief recession becomes long-term and causes people to prefer eating at home rather than eating out. It is important that we make sure that we
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  • Fall '19
  • Robert Reimer
  • Marketing, Recession

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