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Diversification: Firms may expand their product lines to include goods with higher YED to capitalize on increased consumer spending.
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Cost Efficiency: Maintaining or improving cost structures helps firms remain competitive when demand is less responsive to income changes.
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Targeting Lower-Income Segments: Focusing on markets where income growth is still occurring can help firms maintain demand for their products.
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Brand Repositioning: Rebranding efforts can attract higher-income consumers, though this depends on the product and market conditions.
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Product Innovation: Enhancing existing products or introducing new features can stimulate demand even when income elasticity is low.
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Management Foundations
Management: Concept, Process, Theories, and Approaches, Management Roles and Skills
0/3
Management Theories
0/13
Management Functions
Functions: Planning, Organizing, Staffing, Coordinating, and Controlling
0/3
Communication
Communication: Types, Process, and Barriers
0/4
Decision Making
Decision Making: Concept, Process, Techniques, and Tools
0/7
Organisation Structure and Design
Organisation Structure and Design: Types, Authority, Responsibility, Centralisation, Decentralisation, and Span of Control
0/6
Managerial Economics Foundations
Managerial Economics: Concept and Importance
0/2
Demand analysis
Demand analysis: Utility Analysis, Indifference Curve, Elasticity and Forecasting
0/18
Market Structures
Market Structures: Market Classification and Price Determination
0/6
National Income
National Income: Concept, Types, and Measurement
0/2
Inflation
Inflation: Concept, Types, and Measurement
0/7
Business Ethics & CSR: Ethical Issues & Dilemma
Business Ethics CSR: Ethical Issues Dilemma
0/4
Corporate Governance
Corporate Governance
0/4
Types of Markets
0/3
Unit I : Evaluation
Unit I : Evaluation
0/1