Price Elasticity of Demand as a Tool for Formulating Business Strategies in the Footwear Industry of the Maule Region, Chile

Abstract

This work presents the results of a research project on the footwear market as an accessory in the Maule Region, Chile. Its objective was to determine elasticity through the use of estimating techniques and mathematical elements that allow the formulation of commercial strategies in the footwear industry in said region. The estimates made make this feasible clear, since their valuation would make it possible to know with great precision the changes in demand as a result of changes in price, as well as facilitate the recognition of the area where consumer expectations would be met by the level of production of the supplier.