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What are the considerations with supply and demand shifters

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What are the considerations with supply and demand shifters and list potential substitutes and complements in the marketing Profession.

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Solution Summary

The considerations with supply and demand shifters are discussed. The marketing professions for supply and demand shifters are analyzed.

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Some of the demand shifters are:

Change in the number of consumers in the market for a product:

If the number of consumers in the market for a product increases, the demand for the product will increase. If a new high school is built in the same block as a fast food restaurant, the demand for the fast-food restaurant's products will increase. When the school closes for summer vacation, the demand for the fast-food restaurant's products will decrease.

Change in consumer tastes and preferences for a product
If consumer tastes and preferences for a product change, the demand for the product will change. If fashion magazines are showing short skirts, the demand for short skirts will increase. If fashion magazines show few pictures of short skirts, the demand for these skirts will decrease.

Change in consumer income
If consumer income increases, demand for most goods and services will increase. The reverse is also true. If consumer income decreases, demand for most goods and services will decrease. For example, if workers at a manufacturing facility ...

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