But first coffee”, those are words that are often said by many workers who are used to drinking coffee in the morning. Without coffee, it's not like "waking up" to face the day. For coffee drinkers, coffee is mandatory and workers usually drink coffee at the beginning of an activity. However, coffee is not only enjoyed by some people, but also by many people, including students who also need a place to hang out with their friends or indeed before starting lectures they drink coffee first. In Indonesia, we have many coffee brands, start from Indonesian brand to international brand. For Indonesian brand, we have Janji Jiwa, Kopi Kenangan, and many more. They sell coffee and also foods. In Janji Jiwa, we can find Jiwa Toast and Cerita Roti in Kopi Kenangan. Both can be buy separate with the coffee or with coffee package. You can order them by online or go to their outlet. Suppose that you are a loyal customer from Janji Jiwa and you always buy Kopi Susu from Janji Jiwa IDR 18,000, but then you look the Cerita Roti bundling package that consist of Kopi Kenangan with Cerita Roti package IDR 20,000. Which one will you choose? Will you keep in your mind that you should buy Janji Jiwa? From your point of view as a loyal customer, which one more elastic, Janji Jiwa or Kopi Kenangan for you? Can you also choose bubble tea instead of coffee for your routine? If you as management of Janji Jiwa, what will you do to keep the loyal customer and how about your opinion with the elasticity of demand in Janji Jiwa products? Explain your answer

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Question

Elasticity of Demand

“But first coffee”, those are words that are often said by many workers who are used to drinking coffee in the morning. Without coffee, it's not like "waking up" to face the day. For coffee drinkers, coffee is mandatory and workers usually drink coffee at the beginning of an activity. However, coffee is not only enjoyed by some people, but also by many people, including students who also need a place to hang out with their friends or indeed before starting lectures they drink coffee first. In Indonesia, we have many coffee brands, start from Indonesian brand to international brand.

For Indonesian brand, we have Janji Jiwa, Kopi Kenangan, and many more. They sell coffee and also foods. In Janji Jiwa, we can find Jiwa Toast and Cerita Roti in Kopi Kenangan. Both can be buy separate with the coffee or with coffee package. You can order them by online or go to their outlet.

Suppose that you are a loyal customer from Janji Jiwa and you always buy Kopi Susu from Janji Jiwa IDR 18,000, but then you look the Cerita Roti bundling package that consist of Kopi Kenangan with Cerita Roti package IDR 20,000. Which one will you choose? Will you keep in your mind that you should buy Janji Jiwa?
From your point of view as a loyal customer, which one more elastic, Janji Jiwa or Kopi Kenangan for you? Can you also choose bubble tea instead of coffee for your routine?
If you as management of Janji Jiwa, what will you do to keep the loyal customer and how about your opinion with the elasticity of demand in Janji Jiwa products? Explain your answer

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions