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Business
unit 1
demand
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weather and climate
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Time of year
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population structure/demographics
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Marketing , advertising and branding
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trends in fashion and tastes
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changes in consumer income
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Price of compliments
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alternative brands
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price of substitutes
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Cards (15)
What is the definition of demand?
The
amount
of a good that
consumers
are
willing
and
able
to
buy
at a given
price
How does price determine the levels of demand?
If the price
increases
the
demand
will
decrease
-
customers
are not
willing
or able to
pay
the
price
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