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Consumer Demand is how much of something that consumers are wanting. A company needs to know the consumer demand so they know how much of a product to make. Consumer demand is the amount of people that want a particular item. Lets say the supply is 100 items of something and only 10 people want it, not demand. If there is 100 of something and 200 people want it, that is demand.
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∙ 17y ago
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The most important determinant of consumer spending is?
consumer expectations
An increase in the demand for gasoline today caused by concerns that gasoline prices will be higher tomorrow is most likely attributable to consumer expectations or consumer preferences?
consumer preference
What are the demand shifters?
Demand shifters include consumer income, number of consumer (population), consumer taste and preferences, and expectations: future prices of complements and substitutes and future income.
What are the 5 non-price determinants of demand?
consumer tastes and preferences market size income prices of related goods consumer expectations
What keeps business cycle going?
Investment, interest rate and credit, consumer expectations, external shock
The most important determinant of consumer spending is?
consumer expectations
How would you define a knowledge gap?
Knowledge gap --The difference between the consumer's service expectations and management's perception of consumer's expectations
What is a producers relationship to a consumer?
Producers are the ones who creates or produce goods and services that must meet the consumer's expectations.
An increase in the demand for gasoline today caused by concerns that gasoline prices will be higher tomorrow is most likely attributable to consumer expectations or consumer preferences?
consumer preference
What are the demand shifters?
Demand shifters include consumer income, number of consumer (population), consumer taste and preferences, and expectations: future prices of complements and substitutes and future income.
What are the 5 non-price determinants of demand?
consumer tastes and preferences market size income prices of related goods consumer expectations
Meaning of consumer satisfaction?
Consumer Satisfaction can be defined as a degree of person's satisfaction about a product, which fulfilled his expected requirements and exceeded his expectations regarding the product's performance.
What keeps business cycle going?
Investment, interest rate and credit, consumer expectations, external shock
How can you apply consumer orientation?
You can apply consumer orientation by focusing your business on pleasing your customers. You can take polls and study what your customers like, and make sure you are meeting their expectations as a business.
What is product quality?
Product quality is a trait where the product meets or exceeds the expectations of the end consumer. Quality also has the element of consistency involved. Products that are high quality consistently meet expectations.
How does consumer expectation affect demand for certain goods?
Expectations of future events affect the current demand for a good or service.
How can consumer expectations affect demand?
If consumer expected price increase for any reason in such good, he will buy it before the time he expects to apply for that increase and accordingly will increase demand and vice versa.
