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Consumer Characteristics in an Economic Downturn

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Tradeoffs are a principle discussed in Economics. In a nut shell everybody makes tradeoffs. When the price of gasoline went to almost four dollars a gallon. This caused, what is termed in economics, what is called welfare tradeoffs. People started taking mass transit. Others cut back on the amount of fuel they used like staying home and watching a movie rather than going to the cinema. Using this logic we can deduce that this would be the same for fiberglass pools. On the contrare consumers also start looking for bargains. In my experience, in the luxury item category, consumers are looking for the best buy for their money. This is where a product differentiation strategy is extremely important and knowing full well the strategic marketing advantages your product has as compared to the other products in the market. Let me know what you are experiencing in your area.

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I did not realize you can put links into the articles. For more information on Economics go to http://www.small-business-genius.com/Economics.html.

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