People respond to incentives:
Rational people attract to incentives. All of us know about famous
clothing store Reliance trends. They always provide incentives in
the form of offers, cashback, coupons people respond to this incentive and
purchase more products.
People face trade off:
Regularly people face trade-offs in shopping. Ramesh went to reliance
trends to buy Levis shirt he liked that shirt very much. But in shopping he
liked D&G shirt also but he need only one shirt. Ramesh is facing
trade-off. He spent his amount on D &G shirt .To get D&G shirt he
sacrificed the Levis shirt
Law of supply:
In festival season reliance increases the prices of cloths and supply of
goods also increases
Law of demand:
Law of demand also effects the reliance trends.In reliance there are
normal brand shirts If the price of that shirt increases the demand of that
shirt will automatically decrease
Price discrimination:
Reliance will give the 10% discount to the people who have membership
card. I have a reliance membership card I want to buy peter England shirt worth
Rs.2000/- I get it for Rs1800/-.Where the customers who don’t have membership
card they will get that shirt for Rs2000/-
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