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What make pricing of product an important product decision Justify its significance in the light of the growth and profitability of the business?
The pricing of a product is a key factor in determining demand for the product. For instance, if something is priced too high, demand will decrease. If an item is priced lower than competitors, all other factors being equal, then demand for the product will increase.
How does the demand for a product or service affect its price in the market?
The demand for a product or service affects its price in the market by influencing the balance between supply and demand. When demand is high and supply is limited, prices tend to increase. Conversely, when demand is low and supply is abundant, prices tend to decrease. This relationship between demand and price is a key factor in determining the market value of a product or service.
Which factor would most likely cause the demand for a company's product to decrease?
A competitor introduces a similar product at a much lower price.
What determines the demand for product service?
THE Demand for a product or a services depends on a host of factors .some factor are specific product or services market .the importance of these factors may also very over time and over space. how ever the following factor are common to all demand...
What are the factor of rising cost of product?
Supply and demand are the most important factors in the rising cost of a product.
You move along a given demand curve?
Which is the following example of factor that would move a demand curve? A) increase gst b)decrease in cost of raw material c)decrease in subsidy d)decrease in price of complemantery goods
What is the difference between contraction in demand and decrease in demand?
A contraction in demand is caused by an increase in Price and illustrated by a movement up the demand curve. A decrease in demand is caused by any non-price factor (e.g. advertising, tastes and preferences and price of substitute goods) and is illustrated by an inward shift in the demand curve.
If the demand for donuts is elastic then a decrease in the price of donuts will?
Fluctuate. You must also factor in price of ingredients, employees, etc.
A factor that most influences changes in consumer law of demand is?
A key factor that most influences changes in consumer law of demand is the price of the good or service. According to the law of demand, as prices decrease, the quantity demanded typically increases, and vice versa. Additionally, other factors such as consumer preferences, income levels, and the prices of related goods can also impact demand, but price remains the primary driver in determining how much of a product consumers are willing to purchase.
What are push and pull factor when going global?
Competition is a push factor that can cause a business to go global. Foreign demand is a pull factor that causes globalization. Expanding opportunities can help to increase sales by creating or finding demand for a product.
What was a contributing factor to the farming crisis of the 1980s?
A decrease in demand led to farmers not being able to pay back their substantial loans.
Which was a contributing factor to the farming crisis of the 1980s?
A decrease in demand led to farmers not being able to pay back their substantial loans.
