Analysis on why Quibi failed

INSTRUCTIONS: Write an essay that is no longer than two pages (I will not read past the second page), and follow the following formatting:

written in either Arial, Calibri, or Times New Roman font
font size must be between 10 – 12
line spacing must be between 1.5 – 2
leave a one-inch margin on all sides, top, bottom, right, and left
leave one-line spacing between paragraphs
you must select an original title for your essay and the title must appear in the first line, centered, and in bold letters

Because you will submit your essay electronically in Canvas, you do not need to write your name on the page. Your essay must address fluidly all areas asked in the question; it is an analytic composition where you will state your opinion, and give reasons and evidence to support it. Your essay must not be a list of independent answers put together in a paragraph format. Plagiarism will not be tolerated on this assignment. A student who engages in this practice will receive a zero. Plagiarism is the act of taking someone’s words or ideas as if they were your own. Study the essay rubric for more details about my expectations on this assignment. Save your file in either .doc, .docx, .rtf, or .pdf before submitting.

QUESTION: Read first the article from NBC News titled A look at why Quibi failed so soon after launching and proceed to analyze it using what you have learned about elasticities. Your analysis must focus on the following areas:

How would you describe consumers in the streaming service industry? Why?
Do you think COVID-19 made Quibi’s consumers more or less elastic? Why?
Explain how the relationship between revenue and elasticity helps us better understand what happened to Quibi.
Would Quibi have being able to pass its costs on to consumers?
If you had more information to calculate the income elasticity of demand for Quibi, would you expect it to be positive or negative? Why?

The first paragraph of your essay should introduce the reader to elasticity and your thesis. The thesis is the main idea of the essay, what you are trying to prove. The introduction should include some general opening remarks that will draw readers into your essay and the thesis statement, which should appear at the end of the introduction. In the body of your essay, 2 – 4 paragraphs, you should discuss the different aspects that the questions above address. Finally, the last paragraph must offer your conclusion. The conclusion should begin with a summary statement that reinforces the essay’s thesis, and it should end with some general concluding remarks.

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