Question

As a consumer, what are some actions that you can take if you find that pricing...

As a consumer, what are some actions that you can take if you find that pricing for a given product or service is too high? Think outside of the box!

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answer:- We know that the price of a product has a significant effect on how the consumer reacts. If price of the product is higher than other firms, the response may be disappointing.

  • However the response of consumers depends upon several things like; natural of the good, quality, no. Of uses ,availability of substitutes ,and income of the buyers off course .
  • we can switch on to relatively cheaper substitutes, if available.
  • If possible, We can try to postpone the present use of the product and wait for future when price dropes.
  • In case the product is used for multiple purposes, we can use it only for specific purposes and avoid its general use.
  • However we may be forced to use the product if its proper substitutes is not available and the product is an essential one.
Add a comment
Know the answer?
Add Answer to:
As a consumer, what are some actions that you can take if you find that pricing...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT