GRAPH 1
Based on Graph 1 the demand for the smartphones increase even thought the price increases. Demand can be describe as, willingness to pay a price for a specific goods or service. Holding all the factors constant the price of a good or service increases as the demand increases and vise versa. Different customers have different taste, needs, and lifestyle when they want to purchase a particular product. Some of them who want’s a high quality product wouldn’t mind spending a little extra money or a high price to purchase goods that they desire. Moreover, the consumer behavior towards purchasing a product can be seen through the consumer’s characteristics. Certain consumers are very particular in the brand of the product, the quality, …show more content…
According to Rao and Rueket (1994), they have stated that major objectives of a brand name are to provide information regarding the product. Farquhar has added that value of a brands name adds to the product and is named as brand equity. For an instance, developing brand equity is to be an important componet for building a brand. Keller says this statement on 1998. Aaker said that brand might develop sustainable competitive advantages for firms. For an instance, if a consumer recognizes a particular brand, which they prefer, then the firm may have competitive advantages said Pappu on 2005.in 2010 Cornelis stated that many compamies has realised that one of their most priceless assets of the company is the brand name of their product. In the very same year, Khasawnech and Hasouneh said that, the barnd name of the product influences the consumer’s judgement and eventually affects their decision in purchasing the …show more content…
Kolter and Armstrong stated that a consumer’s behavior could also be influenced by social factors such as the family, social role and also the status. Consumers are always tend to be influenced during their decision making process. Consumer might believe in what their social groups says based on various factors such as influenced social group in the particular field. When generation Yis purchasing a smartphone the social influences may come from the friends, peers, family membber and also their spouse. Acording to a research, it says that consumers purchasing behavior is shaped by others especially family members, when they are buying a high – involvement product said Farzana on 2012. Osman stated on 2012, according to another research, it shows that 36.5% 1814 respondent feels that the community trend is one of the most important criteria that influence the purchasing decision of a smartphone. A study also shows that social influence has a significant relationship towards student’s dependency of smartphones said Ding et al, on 2011. Another study was also conducted and was said that Malaysian teenagers who are 19 to 25 years old
In a nutshell, these factors play a big role in the increse of demand of the
Based on Graph 1 the demand for the smartphones increase even thought the price increases. Demand can be describe as, willingness to pay a price for a specific goods or service. Holding all the factors constant the price of a good or service increases as the demand increases and vise versa. Different customers have different taste, needs, and lifestyle when they want to purchase a particular product. Some of them who want’s a high quality product wouldn’t mind spending a little extra money or a high price to purchase goods that they desire. Moreover, the consumer behavior towards purchasing a product can be seen through the consumer’s characteristics. Certain consumers are very particular in the brand of the product, the quality, …show more content…
According to Rao and Rueket (1994), they have stated that major objectives of a brand name are to provide information regarding the product. Farquhar has added that value of a brands name adds to the product and is named as brand equity. For an instance, developing brand equity is to be an important componet for building a brand. Keller says this statement on 1998. Aaker said that brand might develop sustainable competitive advantages for firms. For an instance, if a consumer recognizes a particular brand, which they prefer, then the firm may have competitive advantages said Pappu on 2005.in 2010 Cornelis stated that many compamies has realised that one of their most priceless assets of the company is the brand name of their product. In the very same year, Khasawnech and Hasouneh said that, the barnd name of the product influences the consumer’s judgement and eventually affects their decision in purchasing the …show more content…
Kolter and Armstrong stated that a consumer’s behavior could also be influenced by social factors such as the family, social role and also the status. Consumers are always tend to be influenced during their decision making process. Consumer might believe in what their social groups says based on various factors such as influenced social group in the particular field. When generation Yis purchasing a smartphone the social influences may come from the friends, peers, family membber and also their spouse. Acording to a research, it says that consumers purchasing behavior is shaped by others especially family members, when they are buying a high – involvement product said Farzana on 2012. Osman stated on 2012, according to another research, it shows that 36.5% 1814 respondent feels that the community trend is one of the most important criteria that influence the purchasing decision of a smartphone. A study also shows that social influence has a significant relationship towards student’s dependency of smartphones said Ding et al, on 2011. Another study was also conducted and was said that Malaysian teenagers who are 19 to 25 years old
In a nutshell, these factors play a big role in the increse of demand of the