Explain this class 10 icse
Answers
Explanation:
Introduction:
The nature of fast-moving consumer goods (FMCG) prompts the marketers to come up with new promotional strategies every day. While businesses cannot survive without product promotional strategies it is important to understand the factors that lure customers towards purchasing a certain brand that is highly differentiated. Even though the presentation of messages and the nature of packaging play a great role in how consumers perceive these products, the factors of demand and supply play a critical role in determining the purchasing behavior. This research shall specifically examine the factors that determine how consumers perceive the trends in FMCGs. It shall also examine the elements that motivate suppliers to bring their products to the markets.
Demand Curve:
The demand curve is a graphical representation of the demand schedule. There are various factors that affect the demand for a product. The factors will cause the demand to shift.
Factors that will influence the demand for a washing detergent includes:
- Price of substitute Products. When the price of washing detergent increases with relation to substitute washing detergents, consumers will opt to buy the substitute washing detergent since they will afford them.
- Price of compliments. Complement goods are goods that are used with other goods. When the demand for complements good to washing detergent increases, the demand for washing detergent will also increase.
- Consumer preference. If the consumer preference changes in favor of a certain washing detergent, then people will prefer that detergent, and hence there will be a correspondence increase in the demand for goods.