Evaluating PED

• The price elasticity of demand for a product is constantly changing in a dynamic world
• It is very difficult for businesses to measure PED
• Difficulty in finding accurate information
• Price elasticity changes over different price ranges
• Price elasticity will change over the period of the economic cycle
• Tastes and fashions are constantly changing
• Competitors don't stand still
• They are continually improving, existing products, bringing out new products and trying to promote their products