Untitled Haiku Deck
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PRESENTATION OUTLINE
Income
Scenario: A very wealth millionaire is found to have been laundering money and looses all his fortune. How will this affect his demand?
Answer: the millionaire will switch from normal goods to inferior goods since he will no long be able toad ford his high-end items he is used to.
Factor:income
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Consumer Expectations
Scenario: Suzan and Jerry are looking into buying their first house and have even found one that they think is perfect. Their realtor heard that the prices of that house will be lowering if no one bid on it before next week. How will this affect their demand?
Answer: Their demand for a house will go down since they don't want to purchase one now, before the price is lowered.
Factor:consumer expectations
Population
Scenario:A small town named Washataw is washed away by a storm. The residents move to the nearby town of Reno. How will this affect the demand in Reno?
Answer: the demand for supplies will increase because there is a greater amount of people that need the supplies than before.
Factor:population
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Advertising
Scenario:Covergirl makeup decides to add a second celebrity endorser to their commercials. How will this affect the demand?
Answer: the demand will go up due to the persuasive characteristics of the celebrities showing themselves using the products.
Factor:Advertising
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Prices of Related Goods
Scenario: Two chip products, product A and product B, are identical and the same price. If the price of chip product A goes down, how will the demand be affected?
Answer: the demand for chip product A will go but while the produce for chip product B will go down since the buyer will use product A for a substitution for B. Likewise, the demand for a compliment like chip dip will most likely go up since the demand for the chips has gone up.
Factor:price of related good
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