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How does culture affect buyer demand?

Updated: 12/17/2022
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Q: How does culture affect buyer demand?
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What is a buyer's market?

A buyer's market is an excess of supply over demand, which leads to abnormally low prices.


What are the factors that affects market?

There are many factors that affect marketing. The most common factors are known as environmental, organizational, interpersonal, individual, and buyer factors. Each factor has additional factors as to which can affect business.


How the increase in expansion affect the demand?

Increase in expansion affect the demand because more supply/expansion with constant demand will lead to excess in expansion which affect the demand.


How does culture impact buyer demand?

At a very basic level, culture dictates demand for certain items. Culture may only influence other consumer demands. Consider a strict Muslim culture. There will virtually no demand for alcoholic beverages. In a kosher Jewish community, there will be no demand for pork or deer meat. In Hindu society, no one will eat beef. These are extreme examples. Otherwise, in society driven by consumer consumption, much of the production resources will be devoted to consumer items. In the US, the culture is quite materilaistic. Judgments about the value of people is unfortunately based on the items they own and display. Based on this cultural standard, there is high buyer demand for items that are not necessities. Items like iPods, boats, and 12 bedroom homes continue to be in demand because the culture continues to value conspicuous consumption rather than frugality. Additionally, things as basic as blue jeans are mass produced because (1) they are a widely accepted manner of dress and (2) the demand is part of literally every household in the US. As a contrast, in the former USSR, production of consumer goods was regulated by the government. The deciding factor in production is not consumer demand. The culture changed to the point that the country no longer exists in its past form. That change in culture changed things that are produced in that country and the amounts in which they are produced.


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Buyer power is the power given to consumers. They have the power to decide to buy a product which can change the demand changing the cost of the product.


How does an increase in a products price affect demand for the demand for the product's complements?

It can affect demand because of individual low income earner.


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Why is a person interested in knowing the demand for the shares that he has purchased?

the want to konw about what is the today market for that share and how much buyer and seller are their for this particular share if the buyer demand high then obviusly the share price high and the seller demand are high then also price down for that particular share if the price is decresing demand is incresing and price is incresing demand is decresing the basic tag line of economices


What type of social and culture trends affect REI?

Social and cultural trends that can affect REI include increased interest in outdoor activities, focus on sustainability and eco-friendliness, the rise of experiential retail, and changing consumer preferences towards convenience and personalized experiences.


Futures in Finance?

A buyer makes a contract to purchase a commodity at a future date at a fixed price. If the supply and demand caused the price to be lower the buyer has lost out. However, if the price is higher the buyer gains.