Economic Influences
There are 4 factors influencing the demand for a certain product:
- Price - price of the product
- price of substitute products
- price of complimentary goods
- Price - price of the product
- price of substitute products
- price of complimentary goods
- Disposable Income - state of the economy
- unemployment
- inflation
- interest/mortgage rate
- wage rates
- unemployment
- inflation
- interest/mortgage rate
- wage rates
- Consumer's Use of Credit - availability
- interest rate
- credit terms
- interest rate
- credit terms
- Consumer's Willingness to Spend - consumer confidence
- future expectations of their life
- competition for purchases
- existing purchases
- future expectations of their life
- competition for purchases
- existing purchases