Submit a draft of the supply and demand conditions (Section II) and price elasticity of demand (Section III) of your research paper, including all critica

Submit a draft of the supply and demand conditions (Section II) and price elasticity of demand (Section III) of your research paper, including all critical elements as listed in the Final Project Document. ECO 201 Milestone Two Guidelines and Rubric
The purpose of this milestone is for students to begin their firm analysis from a microeconomic perspective, applying concepts learned in Modules One, Two, and
Three. Specifically, students will examine the supply and demand conditions for the goods or services the firm produces, paying special attention to how sales
and product development have evolved over time. Students will then apply the elasticity concept to determine how the price elasticity of demand for the firm’s
goods or services would be categorized, and they will examine what that suggests for the firm’s ability to increase or decrease prices.
Prompt: Submit a draft of the supply and demand conditions (Section II) and price elasticity of demand (Section III) of your research paper, including all critical
elements listed below. You will analyze data on firm sales and in the market overall to identify trends and inform your recommendation for the firm’s future
actions. You will also use available data to determine the price elasticity for the goods or services your firm produces and explain the factors that influence
consumers’ reactions and the firm’s pricing decisions.
Specifically the following critical elements must be addressed:
II.
III.
Explore the supply and demand conditions for your firm’s product.
a) Evaluate trends in demand over time and explain their impact on the industry and the firm. You should consider including annual sales figures for
the product your firm sells.
b) Analyze information and data related to the demand and supply for your firm’s product(s) to support your recommendation for the firm’s
actions. Remember to include a graphical representation of the data and information used in your analysis.
Examine the price elasticity of demand for the product(s) your firm sells.
a) Analyze the available data and information, such as pricing and the availability of substitutes, and justify how you determine the price elasticity
of demand for your firm’s product.
b) Explain the factors that affect consumer responsiveness to price changes for this product, using the concept of price elasticity of demand as your
guide.
c) Assess how the price elasticity of demand impacts the firm’s pricing decisions and revenue growth.
Rubric
Guidelines for Submission: Your paper must be submitted as a two- to three-page Microsoft Word document with double spacing, 12-point Times New Roman
font, one-inch margins, and sources cited in APA format.
Critical Elements
Conditions: Impact
Conditions: Firm’s
Actions
Price Elasticity of
Demand: Analyze
Price Elasticity of
Demand: Consumer
Responsiveness
Price Elasticity of
Demand: Pricing
Decisions
Articulation of Response
Proficient (100%)
Effectively evaluates trends in
demand over time and explains
their impact on the industry and
the firm
Analyzes information and data
related to the demand and supply
for the firm’s product(s) to support
recommendation for the firm’s
actions and includes graphical
representation of data and
information
Analyzes the available data and
information and justifies how the
price elasticity of demand for the
firm’s product was determined
Explains the factors that affect
consumer responsiveness to price
changes for the product using the
concept of price elasticity of
demand as a guide
Accurately assesses how the price
elasticity of demand impacts the
firm’s pricing decisions and revenue
growth
Submission has no major errors
related to citations, grammar,
spelling, syntax, or organization
Needs Improvement (75%)
Evaluates trends in demand over
time, but evaluation is ineffective
or does not explain their impact on
the industry and firm
Analyzes information and data
related to the demand and supply
for the firm’s product(s), but
information and data do not
support recommendation for the
firm’s actions or do not include
graphical representation of data
and information
Analyzes the available data and
information, but does not justify
how the price of elasticity of
demand for the firm’s product was
determined
Explains the factors that affect
consumer responsiveness to price
changes for the product, but does
not use the concept of price
elasticity of demand as a guide
Assesses how the price elasticity of
demand impacts the firm’s pricing
decisions and revenue growth, but
assessment is inaccurate
Not Evident (0%)
Does not evaluate trends in
demand over time
Submission has major errors
related to citations, grammar,
spelling, syntax, or organization
that negatively impact readability
and articulation of main ideas
Value
18
Does not analyze information and
data related to the demand and
supply for the firm’s product(s)
18
Does not analyze the available data
and information to determine the
price elasticity of demand
18
Does not explain the factors that
affect consumer responsiveness to
price changes for the product
18
Does not assess how the price
elasticity of demand impacts the
firm’s pricing decisions and revenue
growth
18
Submission has critical errors
related to citations, grammar,
spelling, syntax, or organization
that prevent understanding of
ideas
Earned Total
10
100%
Running head: FIRM ANALYSIS
1
Firm Analysis
Tanda Holley
Microeconomics
May 17, 2020
FIRM ANALYSIS
2
Netflix Company
Introduction
Netflix as a firm of choice is analyzed in the following paper regarding the key aspects
and the nature of the business. Focusing on the best and effective approaches, the
transformational strategies and the nature of the management is the purpose. The research is a
critical analysis of the company with an emphasis on the key operational techniques and
interventions that inspire success. It is always good to emphasize and focus on the nature of the
business whereby the company organization and the products handled. The following is an
overview of Netflix Company, history and the products that it deals with.
History and Overview
Netflix is an American-based company that deals in media production and other services
that deal with the videos. The company was founded by three philanthropists; Reed Hastings,
Marc Randolph, and Valle Scotts in California (Shattuc 2020). The company was formed with
the main aim of providing multimedia services to assist in the promotion of best and effective
measures of movie production and providing other services in the form of entertainment. The
headquarters of the company is in Los Gatos in California (Shattuc 2020).
Historically, the company was established in 1997 and has been operational with
advancement and quality services being offered to the society (Shattuc 2020). The company has
grown to be global, with many customers subscribing to the channels to view the resources and
have quality access, which is good and fundamental for a perfect and necessary intervention to
be implemented as per the protocols and issues implemented. The company has a global
marketing strategy whereby most of the branches are located in countries such as Iran, China,
Korea, among other developed countries. Film production and marketing have been the main
FIRM ANALYSIS
3
business in the company, and successful interventions applied to ensure that effective and
legitimate sales are made globally (Oliveira & Ribeiro, 2019). Netflix is stable and renowned for
the services since it is perfect and offers quality marketing techniques as needed for fundamental
and essential marketing and service provision to the customers.
FIRM ANALYSIS
4
References
Oliveira, C., & Ribeiro, M. I. (2019). Netflix-enterteinment services (Doctoral dissertation).
Shattuc, J. (2020). Netflix, Inc. and Online Television. A Companion to Television, 145-164.

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