Rolex Profile Of Rolex Watches

Economically, the demand and supply of a product describes how cost or price, vary between availability and demand. Hence, for a given commodity, demand is the relation of the quantity of goods and services that consumers would be prepared to purchase at each unity price.

The demand which will depend on the income and expectations of the consumers on the product. The taste or preferences of the consumers will be based upon the features and quality of the product.

* Customer demand: Rather than basing on history and forecast sale of its products, the company should pay more attention in analyzing some uncontrollable factors such as inflation, recession, and currency exchange rate which may affect customers’ buying behavior.

The first factor is the availability of substitute goods, which are goods that can be utilized instead of the original good. If there is a substitute good available, the demand is likely to change more because people can buy different products. On the contrary, if an item has few substitute goods, it may not gain or lose customers. In Canada, Nike shoes have lots of substitute goods like Adidas

Supply and demand is a fundamental element of economics; it is the main support system of a market economy. Demand can be interpreted by the quantity of a product or service a consumer is desired to acquire at a given time period. Quantity demanded is the amount of product consumers are willing to purchase at a given price; the relationship between price and quantity demanded is commonly known as the demand relationship. Supply however, accounts for how much a market produces for consumers. The quantity supplied refers to the actual amount of a certain good firms are willing to supply to consumers when receiving a certain price. Having limited resources we all have to

Demand refers to the quantity of products people are willing and able to purchase during some specific time period, all other relevant factors being held constant. Price and quantity demanded stand in a negative (inverse) relationship: as price rises, consumers buy fewer units; and as price falls, consumers buy more units (Stone 75).

Now $149.95 is a lot of money to spend on what is extensively a watch. However, my goal for the new year, as it is every year, was to get fit and live a healthier lifestyle.

Economists have created a theory of demand which states the following. Demand curve has a downward slopping which shows the relation between price and quantity while all other factors are equal. At higher prices the demand will decrease, while at lower prices demand will increase.

When analyzing a consumer’s demand for a product, one must consider the limitations such as income, budget, preferences, substitute products, and the price of products. External factors can also influence a hunter’s demand for a product, which will be discussed later.

Demand is also influenced by taste, as well as fashion, known as aesthetic value. An aesthetic value is what we consider to be attractive and beautiful, and this therefore increases the value of the item. A good example of this would be the art done by Tracey emin in ‘my bed’ (Making social lives, p131), the art was an unmade bed surrounded by empty bottles and fag butts, many would not look twice at such a photo, however some would value it as artwork. When there is an increase in aesthetic value, there tends to be an increase in economic value. In both economic and aesthetic values items are constantly being processed by social revaluation and devaluation.

A market demand analysis is used to help understand how much consumer demand there is for a given product or service. This type of analysis will help determine if a business can successfully enter a market and generate enough revenue and profit to maintain the business. One must identify the market and the growth potential.

There are an infinite number of factors that drive economies toward a certain direction. Supply and demand for example, vary with the price of inputs, technology, and decisions made by policy makers to name a few. Depending on the goods, complimentary products or substitutes can change quantity demanded and price. Price elasticity represents the change in demand in relation to the change of price. Quantity demanded is the number of products a person is willing to buy and this directly affects prices causing fluctuations in supply and demand. These wavers between supply and demand are

Branded watches have continuously been well-liked throughout the years and will still continue to be trendy in the years to come for the reason that after consumers buy into a brand, they reap countless benefits. With their knowledgeable purchasing routine, consumers continue to purchase in style brand watches for five important reasons.

The demand curve shows what happens to the quantity demanded of a good when its price varies, holding constant all the other variables that influence buyers. When one or more of these other variables changes, the demand curve shifts leading to an increase or decrease in demand. The table below lists all the variables that influence how much consumers choose to buy cigarettes.4

7 (Ziglar, Chronocentric: Beginner's Gudie to Major Watch Brands)Still based on our perceptual map, we can see that Rolex has an average luxury level and degree of innovativeness. Rolex is a competitor of Patek Philippe but Patek Philippe is not a competitor of Rolex. This is because Rolex has a strong awareness and sometimes wealthy customers are more attracted to buying a Rolex because they don’t feel the need to buy watches as costly as Patek Philippe.