Please enable JavaScript.
Coggle requires JavaScript to display documents.
Factors affecting demand (Price (If the price of a product becomes cheaper…
Factors affecting demand
Price
If the price of a product becomes cheaper more people will want to buy it (increasing demand) but if the price increases less people will want to buy it (decreasing demand)
If the price of a competitors products or a substitute product has decreased demand will decrease but if the price increases demand decreases
If a complimentary products prices decrease demand is more likely to increased but if price increases demand will decrease
Income Levels
If consumer income levels are high consumers have more disposable income to spend on products therefore increasing demand
If consumer income levels are low consumers have less disposable income to spend on products therefore decreasing demand
-
-
-