Unlocking the Power of ChatGPT and AI in Testing - A Real-World Look, present...
Characteristics of consumers
1. Characteristics of consumers
Certain characteristics of consumers make
the practice of price discrimination more
likely, these are:
1 Consumer ignorance: Consumers may not be
aware that the good or service is available from
another supplier at lower price.
2 Consumer inertia: Even if they are aware of it’s
availability at a lower price, consumers may
regard the difference in price as insignificant.
Therefore, they may be reluctant to change from
one supplier to the other.
3 Consumer attitude to the good or services in
question: Consumers may be willing to pay a
higher price for the good or service supplied by
one firm because of a certain status.