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What is the general willingness of firms to produce and sell a product at various prices?
Wiki User
∙ 11y ago
The general reason firm produces various product lines and at various prices is market security. The prime means doing so is market saturation per three objectives:
- Market Demographics
This is based the various types of consumers at various tiers to the business firm some consumer based tiers fluctuate.
- Market Branding
This is about creating brand security establishing it in various niche markets based of consumer Demographics
- Market presence
This is about securing position among various market groups for continuous brand, entity continuation and developing into new emerging markets
An excellent example is the auto industry the market is comprised of various consumers and various needs or tastes. So a car manufacturer will make a vehicles to fulfill the range of needs of the consumer and the price range they can manage. It will also make cars specific to special cultural needs too if the drive needs right or left hand driving wheel. Because it's distributed among various demographics it's labels the name and make are visible as secondary advertising. It's presence in various markets permits it's line continued operations per its distribution as it develops lines per the consumers changing needs.
First car for a young person may need to be affordable so economy line is required - then the consumer relocates new job and seeks a familiar product but affords higher quality so again a luxury line avails. Then that same consumer starts a family so requires a larger vehicle and when that individual retires or no longer needs a family mini-van but not desires a moderate affordable vehicle and not compromise comfort may purchase a mid-sized vehicle. Again it's about securing various markets for the objective of market profitability and security.
Noble Bogan
Wiki User
∙ 11y agoThe general reason firm produces various product lines and at various prices is market security. The prime means doing so is market saturation per three objectives:
- Market demographics
This is based the various types of consumers at various tiers to the business firm some consumer based tiers fluctuate.
- Market Branding
This is about creating brand security establishing it in various niche markets based of consumer demographics
- Market presence
This is about securing position among various market groups for continuous brand, entity continuation and developing into new emerging markets
An excellent example is the auto industry the market is comprised of various consumers and various needs or tastes. So a car manufacturer will make a vehicles to fulfill the range of needs of the consumer and the price range they can manage. It will also make cars specific to special cultural needs too if the drive needs right or left hand driving wheel. Because it's distributed among various demographics it's labels the name and make are visible as secondary advertising. It's presence in various markets permits it's line continued operations per its distribution as it develops lines per the consumers changing needs.
First car for a young person may need to be affordable so economy line is required - then the consumer relocates new job and seeks a familiar product but affords higher quality so again a luxury line avails. Then that same consumer starts a family so requires a larger vehicle and when that individual retires or no longer needs a family mini-van but not desires a moderate affordable vehicle and not compromise comfort may purchase a mid-sized vehicle. Again it's about securing various markets for the objective of market profitability and security.
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The general willingness of firms to produce and sell a product at various prices is?
The general willingness of firms to produce and sell a product at various prices is known as supply.
The general willingness of consumers to purchase a product at various prices is .?
Demand is the general willingness of consumers to purchase a product at various prices.
What does a supply schedule show in a table format?
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