The Price Elasticity Estimator

Help me reason about how sensitive my customers are to price.

Product: [DESCRIBE]
What I know: [ANY PAST PRICE CHANGES AND VOLUME RESPONSE, SUBSTITUTES,
CUSTOMER TYPE, SHARE OF WALLET]
The decision: [CONSIDERING A PRICE CHANGE OF WHAT SIZE]

Provide:
1. Whether demand is likely elastic or inelastic here, and why
2. The factors that make my customers more or less price-sensitive
3. The revenue effect of the proposed price change under different
   elasticity assumptions
4. How to actually test elasticity before betting on it
5. Segments that likely differ in sensitivity

Be clear you're estimating direction from economic logic — the real number
needs a test. Show the revenue maths at a couple of elasticity levels.