Please read question below

Demand Function

Need 300 words with references.

Demand  function specifies other factors that management will often consider,  including the design and packaging of products, the amount and  distribution of the firm’s advertising budget, the size of the sales  force, promotional expenditures, the time period of adjustment for any  price changes, and taxes or subsidies. For this discussion forum,  consider your favorite consumer product (e.g. cell phone, car, cereal,  restaurant, hair gel, etc.) and describe the variables that might be  part of the demand function (i.e. substitute good, complementary good,  income level, advertisement, consumer preference, etc.) for this  product. How would you describe the elasticity of demand for this  product – is it highly or somewhat elastic or inelastic? Why?