Identify a recent purchase in which the price of the product

Identify a recent purchase in which the price of the product was an important consideration in the decision-making process related to purchasing the product. What other factors affected your decision? How important was your income as a factor? How important was the price of other goods as a factor?

Solution

Mobile phone.

The desicion to purchase a new mobile phone was very much price sensitive because there were many simillar products available in the market with same facilities and in same cost.

Disposable income was also an important factor, available of sustitutes was also an important factor. But price was the most important factor. There was a cut to cut competition between various mobile manufacturing companies.