"Once Upon A Time.....In A Store Near You!
Pretty bored in lockdown? TedTheEcon 🧸 has come up with a pretty interesting topic to ponder upon. Do you all ever wonder how we make purchasing decisions? Why do we prefer one brand over another? In our day-to-day life, we subconsciously make a lot of economic decisions regarding our choices but how is it relevant anyway? It’s just our preferences of particular goods and services; why there exists a hubbub regarding Consumer Preferences ? Well, consumer preferences are not as simple as they seem. They are the ‘ heart and soul’ of the entire market economy and on a greater scale influences economic growth of the nation. If so, then what are these consumer preferences and how are they formed?? Consumers making a choice Consumer preferences are the subjective tastes of individual consum...