The paper 'The Battery Industry in the United Kingdom' is a perfect example of a Macro and Microeconomics Case Study. Market forecasting entails analysis of the future market characteristics, quantitative figures, and trends by use of the previous information. Producers use the forecasting analysis reports to predict the future behavior of customers (Mintel 2010). Price elasticity of demand measures how the customers' purchases for a particular product change due to an increase or decrease in the commodity's price while holding other determinants of demand constant (Cooper 2003). Market structures include the features of the market that influence the behavior of customers.
There are four different market structures namely perfect completion, monopoly, monopolistic competition, and oligopoly (Yildirim & Philippatos 2007). The article examines what happens in the battery market in the United Kingdom from the year 2004 onwardsThe battery market between 2004 and 2008The Mintel research shows that battery sales volume is increasing between the period 2004 to 2009 (Woodall et al. , 2010). More adults remain home rather than spending on trips to save money. In the process of staying home, they use they spend more on activities that require batteries.
The battery manufacturers employ mechanisms to counter the prospected drop in consumer purchases for batteries in 2008 as a result of a recession by massive promotion. The promotion sees a rise in the average number of packs that individuals buy from 4.5 to 4.7. The promotion includes free samples (Mintel 2010). The price per pack does not change but the quantity per package increases. Because of the amount that consumers buy during 2008, there is an increase in the amount that they have in store that consequently reduces the demand for batteries in 2008 (Mintel 2010). Between the end of 2007 and mid-2008, the users opt to use the accumulated stockpot cells rather than going for new ones.
The battery purchases remain small in the course of the period. The average value per pack thus falls to 4.5 similar to the value of 2007. There is a fall in demand for non-rechargeable batteries and an increase in demand for the rechargeable ones that further lower the alkaline battery market in 2008 (Mintel 2010).
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