Estimating Price Elasticity from Your Own Price Changes: Log-Log SLOPE
This lesson is part of the course
In this lesson
You estimate the price elasticity of Copperleaf Outdoor's trekking poles from ten weeks of own price changes with a log-log regression slope, then predict the unit change for a planned price rise.
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Lessons in this course
- Matching Products Across Shops: Normalised Match Keys and the Match Rate Locked
- The Price Index: Our Price ÷ Average Competitor Price × 100 Locked
- Price Position: Cheapest, Middle or Most Expensive with RANK.EQ Locked
- Detecting Price Changes: Day-over-Day %, Change Flags and Change Counts Locked
- Promotion Detection: Big Drops That Rebound Within N Days Locked
- Estimating Price Elasticity from Your Own Price Changes: Log-Log SLOPE Locked
- A Repricing Rule: Beat the Lowest Competitor by 1 %, Never Below the Margin Floor Locked
- Capstone: a Price Monitoring Dashboard with Alerts, a Ranked Bar Chart and Conditional Formatting Locked