Importance of the price of substitute products in the market demand in commercial cities of Veracruz, Mexico

• DOI: https://doi.org/10.22533/at.ed.21642424261110

• Palavras-chave: Economy, trade, competitiveness

• Keywords: Economy, trade, competitiveness

• Abstract:

  The economies of the markets or of any commercial institution depend directly on the supply and demand of products and services, the productions of these are indispensable for the permanence, development of the entities and companies in general, which leads to the positioning of organizations and places. The supply and demand of products is a permanent and indispensable activity among organizations, individuals and society, due to the need to satisfy needs on a continuous basis, whether primary, secondary and/or tertiary. The demand, purchase and consumption of goods and services is the main activity that mobilizes markets, in accordance with these economic activities, in order to obtain money or other products. However, it is known that such demand is influenced by factors such as tastes, competition, income and/or income of consumers, and substitute products, which are determining factors in the decision to purchase a product or not. This study seeks to identify the impact that the price of substitute products has on consumers' purchase decisions and market demand. Thus, the objective is to identify the importance of the price of substitute products in the market demand in commercial cities of Veracruz, Mexico. A qualitative, quantitative, quantitative and transversal field research was carried out, where a survey was used directed to consumers in the study area, in this case in the cities of José Cardel, Úrsulo Galván, Veracruz and Xalapa, all belonging to the state of Veracruz, Mexico. Significant results are presented regarding the importance of the price of substitute products, which serves as a reference to the different companies and commercial places, allowing them to consider and implement strategies for the supply of their products, for their own benefit and that of the consumers.