digital media give consumers more control over price. this gives them a significant advantage. to compete, what must many companies do so consumers will focus on attributes other than price?

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21-10-2022
Business

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digital media give consumers more control over price. this gives them a significant advantage. to compete, what must many companies do so consumers will focus on attributes other than price?

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kumarravichandra kumarravichandra · Answer 1 · 2022-10-24T14:42:18-04:00

Companies decrease prices after meeting the demand from early adopters in order to draw in more price-sensitive customers.

According to the scenario provided in the question, the rationale for the price decline over time is that businesses cut prices to entice the more price-sensitive customers after satisfying the demand for early adopters.

The users who begin utilizing the product before others do are known as early adopters. In this situation, after the early adopters are satisfied, other customers will want to purchase the product, so the price must be dropped to make it affordable for them.

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