Factors affecting demand of fashion - Directly & Indirectly
FACTORS AFFECTING DEMAND - DIRECTLY & INDIRECTLY :
1. Change in people's Income : Change in people's Income is the factor, is directly related to demand. If there is Increase in income, then there would be increase in demand also.
2. Changes in population : This factor is directly related to demand. Increase of population leads to increase in demand.
3. Change in fashion and taste : Fashion, trend & taste are directly related to demand of the commodity. Increase in taste & fashion leads to increase in demand of commodity.
4. Change in Income Tax : Income Tax is inversely related to demand. Increase in income tax leads to decrease in demand of commodity.
5. Change in prices of substitute goods : This factor is directly related to demand. Increase in price of substitute goods leads to increase in demand.
6. Change in prices of complementary goods : Change in prices of complementary goods is inversely related to demand of product. Increase in price of complementary goods leads to decrease in demands of product.
7. Advertising : Advertising is also directly related to demand. More attractive & successful advertisement, increase the demand of consumers towards product.
8. Climate / Environment : This factor is inversely related to demand. If there is Change in climate & environment, consumer's future expectation leads to decrease in demand.
Accurate blog 👍
ReplyDelete