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How can complements impact the market demand curve?
Complements are goods or services that are used in conjunction with a certain product. For example shampoo and conditioner are complements. When the demand for a complement increases it can shift the market demand curve for the original product. This is due to the fact that when the price of the complement goes up the demand for the original product may also increase due to the need to purchase the complement. Similarly when the price of the complement decreases the demand for the original product may decrease as well.There are several ways in which complements can impact the market demand curve: If the price of a complement increases the demand for the original product may also increase. If the price of a complement decreases the demand for the original product may decrease. When the quantity of a complement increases the demand for the original product may also increase. When the quantity of a complement decreases the demand for the original product may decrease.In conclusion complements can have a significant impact on the market demand curve for the original product. The price and quantity of the complement can both affect the demand for the original product either increasing or decreasing it. Therefore it is important to take these factors into account when analyzing the market demand curve.
How changes in consumer tastes and consumer incomes affect demand?
If consumer income increases, demand will increase. If income decreases, there is less money to spend, so demand for products that are not necessary will decrease. Consumer tastes influence what products are in demand. This can change over time, so a product that is in high demand may become a low demand product and visa versa.
The cost of something?
Whoever asked this question is clearly dumb. Every product is sold at a different price for every product. Some may be $2.99 or $65.95. It all depends on the product.
How durability and perishable of goods affects its demand?
if a customer requires a product with a short life cycle he/she may demand less of tht product
What will a decrease in the price of a particular product result in?
A decrease in the price of a particular product will result in higher demand. It may also result in shortages if the product cannot be produced fast enough for consumers.
How will marketing affect a new product?
the way the worker may talks to the customer may affect the chance of the product being bought
Why is the study of reliability engineering important to science student today?
What is Reliability?Reliability is a broad term that focuses on the ability of a product to perform its intended function. Mathematically speaking, assuming that an item is performing its intended function at time equals zero, reliability can be defined as the probability that an item will continue to perform its intended function without failure for a specified period of time under stated conditions. Please note that the product defined here could be an electronic or mechanical hardware product, a software product, a manufacturing process or even a service.Why is Reliability Important?There are a number of reasons why reliability is an important product attribute, including:· Reputation.A company's reputation is very closely related to the reliability of its products. The more reliable a product is, the more likely the company is to have a favorable reputation.· Customer Satisfaction. While a reliable product may not dramatically affect customer satisfaction in a positive manner, an unreliable product will negatively affect customer satisfaction severely. Thus high reliability is a mandatory requirement for customer satisfaction.· Warranty Costs.If a product fails to perform its function within the warranty period, the replacement and repair costs will negatively affect profits, as well as gain unwanted negative attention. Introducing reliability analysis is an important step in taking corrective action, ultimately leading to a product that is more reliable.· Repeat Business.A concentrated effort towards improved reliability shows existing customers that a manufacturer is serious about its product, and committed to customer satisfaction. This type of attitude has a positive impact on future business.· Cost Analysis.Manufacturers may take reliability data and combine it with other cost information to illustrate the cost-effectiveness of their products. This life cycle cost analysis can prove that although the initial cost of a product might be higher, the overall lifetime cost is lower than that of a competitor's because their product requires fewer repairs or less maintenance.· Customer Requirements.Many customers in today's market demand that their suppliers have an effective reliability program. These customers have learned the benefits of reliability analysis from experience.· Competitive Advantage.Many companies will publish their predicted reliability numbers to help gain an advantage over their competitors who either do not publish their numbers or have lower numbers.by Umeano Emmaunel
Importance of reliability give examples?
Reliability is vital because it ensures consistent performance and trustworthiness. For example, in the context of technology, a reliable internet connection is crucial for uninterrupted communication and work. In manufacturing, reliable machinery reduces downtime and increases productivity. Overall, reliability builds confidence and fosters positive relationships with customers and stakeholders.
What factors affect the globalization of an business?
Various factors can affect the globalization of a business. For example, cultural factors may affect how viable a product is in a certain location.
Why is it necessary to have a Terms of Use Policy?
Very good question; however the answer may not be what you may expect. Terms of Use dictate how any given service is supposed to used during normal operation of any particular product (in this case more likely how you would use a web site.) If you choose NOT to follow the ToU then you may suffer reduced usability of the product or service - up to and potentially including death. ToS typically lead you into the Warranty of such product or service.
What is waste product produced by CD factories?
a chemical, that may affect our body system and pollution in earth......
Limitations of sales promotion?
- if used over a long term it may affect product image - it may affect the sales of the product that are not under the sales promotion program - over emphasis on short term increase in sales could affect the attainment of long terms objective - it delays the purchase during the non-promotion season
How reliable is the black berry software?
Online reviews generally indicate good reliability for Blackberry software. Having said that, when compared to the iPhone and Treo, it seems that Blackberry may be an inferior product.
How may the principle of fungibility affect the decision made in a court of law?
Fungibility can affect law cases in a few ways. One example is in the context of product liability. If a plaintiff is injured by a fungible product, the doctrine of market share liability may shift the burden of liability too all manufactures.
What will a change in price do for a product?
It will affect its sales. If the price goes up, depending upon what the product is the sales may go down. When the price goes down, the sales will probably go up.
Examples of by-product pricing?
a pricing method used in situations where a saleable by-product results in the manufacturing process. If the by-product has little value, and is costly to dispose of, it will probably not affect the pricing of the main product; if, on the other hand, the by-product has significant value, the manufacturer may derive a competitive advantage by charging a lower price for its main product.
What are the disadvantages of umbrella branding?
Any product can negatively affect the overall brand and specific benefits may be muddled in the overall shared value.
