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What would you have done differently if you were at the helm of Britannica?

Business Dec 27, 2020

What would you have done differently if you were at the helm of Britannica?

Expert Solution

Britannica's helm is a Scottish encyclopedia that was regarded as an information period that gave Scotland a sense of pride through the enlightenment. During this era, industrialization crept in and, as a result, brought forth revolutionary objectives. The Britannica encyclopedia was first considered an arts and sciences dictionary from the 1768 partnership of Colin Macfarquhar and Andrew Bell.

If I were at the helm of Britannica, I would have kept the cost of purchasing the physical Britannica version high to gain more profit from the sales. People still bought the physical version even after publishing the digital version through CDs that was cheaper. Therefore, portraying a low elasticity demand as they were willing to incur high costs to get that version.

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