Five Concepts of Economics in a Brand

Titan

1) People face trade off: -

          There are many watch brand available in the market, so people confuse about what they buy or what not.

2) Opportunity Cost: -

          People select two companies like Titan and FastTrack but Titan is more reliable than FastTrack, so those buyers left FastTrack and choose Titan, where FastTrack is Opportunity Cost.

3) People respond to incentives: -

          In Puja, festival and marriages etc. they give discounts and many other offers to attract customers.

4) Monopolistic Market: -

          There are many watch brands but Titan have some unique features so customer choose Bata.

5) Low of Demand: -

          At off seasons the demand of watch decreases so price of the product increases due to earn more revenue on those time.