MANAGEMENT

Detailed explanation-1: -by changing the selling price of products or bringing out budget products to match the state of the economy-eg during a recession, customers will spend less money and businesses may need to reduce their prices or develop a budget range to encourage customers to continue to purchase.

Detailed explanation-2: -Advertising Customers get to see the products first through advertisements and therefore become one of the biggest factors that influence customer perception. The advertisement and campaigns that a company runs will help to build a positive customer perception.

Detailed explanation-3: -Persuasive Advertising tries to convince customers that a company’s services or products are the best, and it works to alter perceptions and enhance the image of a company or product. Its goal is to influence consumers to take action and switch brands, try a new product, or remain loyal to a current brand.

Detailed explanation-4: -What are consumer preferences? Consumer preferences are subjective individual tastes, likes and dislikes, and predispositions. When you’re building or marketing a product to your target consumers, you need to consider their personal preferences to get the best possible results. What are their motivations?