Total marketing effort is a term used to describe the critical decision

Total marketing effort is a term used to describe the critical decision
factors that affect demand: price, advertising, distribution, and product quality. Let the variable X represent total marketing effort. A typical model that is used to predict demand as a function of total marketing effort is

D=axb

Suppose that “a” is a positive number. Different model forms result from varying the constant “b” Sketch the graphs for this model for “b”=0, “b”=1,0< b <1, b < 0, and b > 1. What does each model tell you about the relationship between demand and marketing effort? What assumptions are implied? Are they reasonable? How would you go about selecting the appropriate model?

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