There are several key factors that directly influence the formation of consumer demand. Let's look at them in more detail.
1. Price of the product
Price is the main factor that influences demand. The higher the price, the lower the demand for the product, and vice versa. This law is known as the law of demand: as the price increases, consumers are willing to buy less of the product. However, in some cases, when it comes to premium products or unique offers, a high price level may not reduce demand, but rather increase it.
2. Consumer income
The higher the income of consumers, the more goods and services they can afford to vietnam mobile number list buy. If incomes grow, demand for many goods (especially non-essential goods and services) can increase significantly. At the same time, during periods of economic instability, when incomes decrease, buyers begin to save, which directly affects demand.
Demand for goods and services also depends on the tastes and preferences of buyers. Fashion, trends, cultural and social changes can significantly change consumer preferences. For example, the growing popularity of eco-friendly goods and services leads to an increase in demand for them, even if they are more expensive.
4. Fashion and trends
Fashion and trends are important components that influence demand. When a new trend emerges (for example, a healthy lifestyle or digital technologies), the demand for the corresponding products increases sharply. Companies that can react to these changes in time gain a competitive advantage.