Think of a product or service that you really like. Try to pick something that isn't VERY mainstream like NikeStarbucks, or Apple. You may consider a very generic product like bottled water or toothpaste. 1. What is the name of the product? Provide a link to their website.
2. How often do you use it?
3. Why do you use it? What problem is it solving for you? 4. Reflect on the last time you did use it - how could it have been a better experience ?
5. Do you think it would be worth starting a business to build a better version ? Why or why not?

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?