Demand and investment for jewellery at the time of economic crisis
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AbstractThe consumer demand defines strategy and tactics of the organization of jewelry manufacture. The demand and its forecasting for short-term and long-term prospect is one of the major problems of marketing for the various organizations and firms. The demand size is influenced by price and non price factors which should be traced accurately on a constant basis by special departments of firms. My research question is how the demand for jewelry changes at the time of economic crisis. In this work a number of the major factors are identified which influence almost all buyers to get the jewelry. The concept of elasticity of demand has a direct bearing on the pricing policy of the companies. Therefore, considerable attention in this work is given to this economic category. In real life it is very difficult to obtain reliable and stable data on factors of cross elasticity to use it for pricing. The analysis carried out shows that price elasticity of jewels in most cases is low. Demand for luxury goods linearly depends on the personal income. The demand research accepts a special urgency in the conditions of the economic crises aggravating the competitive struggle between suppliers of jewelry. The world economic crisis has brought a rise in prices for gold and falling incomes of the population. It has led...