What Are the Two Basic Approaches to Fluctuating Demand

question 30

Essay

What are the two basic approaches to fluctuating demand?

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Definitions:

Awareness

The degree to which consumers know about a brand, product, or service, recognizing its existence and features.

Unsought

Refers to products that consumers do not typically think about buying or do not know exists until they see them.

Specialty

Signifies a particular area of expertise or a focus on a specific type of product or service that a business offers, distinguishing it from competitors.

Brand Loyalty

The tendency of consumers to continuously purchase one brand's products over another, often due to positive experiences and perceived value.