Do you think marketing and advertising has anything to do with our willingness to pay for water? A successful marketing or advertising campaign will increase the demand (shift the demand curve to the right) and/or decrease the buyer’s sensitivity to price changes. What factors do you think affect our sensitivity to prices of gasoline and bottled water?

Answer rating: 100% (QA)

Supply and demand of products with different substitutes is mostly controlled by the preferences of customers Depending on what customers like they do ... View the full answer