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Unformatted text preview: 3. When a recession occurs, some companies resort to changing product quality. • When a product is different, it can appear better. o However, consumers can consider the generic product over the personalized product due to price. o Companies strive to make their product more personal so consumers still buy from them. Ex: Kleenex turned to “extra soft tissues” to sway their consumers. The name was more appealing. Want to make product a commodity, not an unnecessary good. Companies like Louis Vuitton still attract to high end because money is still out there and consumers of their product are still willing to buy. Their quality is word-wide known and see lowering prices anything but an option. Companies contemplat lowering price or raising quality. Always a sacrifice....
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This note was uploaded on 05/17/2011 for the course BUS 111 taught by Professor Schlommer during the Spring '11 term at Miami University.
- Spring '11