WHY DO PEOPLE CHANGE THEIR BRANDS?

WHY DO PEOPLE CHANGE THEIR BRANDS?

     People prefer to buy branded things because of various reasons. Economic concepts behind this is "DETERMINANTS OF ELASTICITY OF DEMAND AND NON PRICE DETERMINANTS".  people buy according to their  tastes and preferences. They choose brands according to their tastes and interests. Tastes and preferences always play a major role. 

    Next to that it depends on income of the consumer. Income elasticity plays a role in changing brands. If the income of the consumer is low he/she buys general products with his/her limited company. If the income of the consumer increases then the consumer prefers to buy the products which are high in price as his/her income is increased. consumer  prefers to buy branded goods or costly products with their increased income.