An incentive is something that makes people benefit at the time of purchasing. Everyone wants an reward against purchase. Normally people takes decision on the basis of cost and benefits and they respond accordingly. Incentives is important part to consider while doing study of economics. A public policymakers never forget about incentives.For example,In an era of digital marketing such a good offers we see that attracts customer i.e. Cashback policies,free coupons etc. A good incentives increase seller's sales more frequently in comparison to their competitors.one good example to incentives a person dislike to one particular brand but get a job in that brand as marketing manager now a person have to find a good incentives to increase the sales of that brand.
Economics when applied to real life sounds beautiful. this blog is for those students who are discovering the different facets of economics applications and want to share their discoveries.
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IMPACT OF SOCIETY /SOCIAL GROUPS ON PURCHASE INTENTIONS OF HOME BUYING- Consumers are the most important factor that will make any bus...
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Supply in elastic:if the supply is difficult to replace the product by a substitute goods then that is known as supply-in-elastic. Example...
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MARKET STRUCTURE: there are different market structures that can be characterized to an economy, without market structure any company ca...
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If the supply is easy to replace by multiple suppliers then it’s known as supply elasticity. Any unskilled worker is an example of supply e...
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