The influence of price factors on consumer behavior

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Similarly, buyers adapt to market conditions over time, and if a product temporarily becomes unavailable due to a high price, then some consumers subsequently solve their problems, and demand begins to recover.


Let us consider, using a specific example, how price factors hong kong mobile database of demand can influence consumer behavior.

One of the main criteria of consumer behavior is the desire to save money, and a common strategy for implementing such a model is the use of promotions.

In this case, the buyer is aware of his need and clearly defines the goods that are of interest to him, but due to their high cost, their purchase is carried out only on the most favorable terms. Within the framework of such behavior, it is possible to switch attention between favorite brands.

For example, a buyer prefers electronics from Japanese manufacturers - this means that, given comparable technical characteristics, he will choose the TV that is being promoted.

By the way, some sellers make mistakes when assessing the impact of price factors on sales levels, when the share of promotional sales exceeds 80-90% of the total volume, which significantly reduces the total profitability.