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Euro Disney

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1. Willingness to pay: The willingness to pay (WTP) is the maximum amount a person would be willing to pay, sacrifice or exchange in order to receive a good or to avoid something undesired. Willingness to pay is the fundamental building blocks of demand functions and hence our ability to estimate demand elasticity and consumer surplus and willingness-to-pay measures can be used to study the screening and causal effects of prices. The firm must know or be able to infer consumers’ willingness to pay and it varies across consumer or units. That is, the firm must be able to identify whom to charge the higher price. The actual price paid for a good may be less than a consumer's willingness to pay and the difference between the two prices is called a consumer surplus. Consumers are usually prepared to pay an amount lower than their reservation price and will not pay higher than the value of the good. Reservation price is the lowest price at which a seller is willing to sell a good or service. The 'walk away' point is the price point at which a consumer is no longer willing to pay or a seller is no longer willing to sell.
2. Complementors are businesses that directly sell a product (or products) or service (or services) that complement the product or service of another company by adding value to mutual customers; Example Microsoft and McAfee (Microsoft Windows & McAfee anti-virus). Businesses use complementary relationships to increase demand. Porter's Five Forces model suggests that businesses compete for the slices of one pie - a zero sum game market. Businesses and institutions can improve market opportunity by increasing the numbers of suppliers or customers, in other words, complementors can create demand for you.
3. Sandwich Generation: The generation of sandwich generations are those people struggling to cope simultaneously with the costs of caring for aging…...

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