changes in consumer income levels;

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What are the demand factors other than price?
In addition to price factors, there are also non-price factors, the key ones being:

customer preferences;
impact of advertising;
trends and fashion trends;
seasonality, etc.
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Pricing Strategies: Selection and Implementation

Is it possible that price factors have an impact in the opposite direction?
Although the overall picture looks like demand growth malaysia mobile database when prices fall and demand declines when prices rise, in some cases we see different dynamics.

As already noted, the reaction to a change in the price of products that create a high social status for their owners can be non-standard. The purpose of purchasing such goods is to demonstrate one's wealth and emphasize the ability to use luxury items.

This applies to expensive cars, designer clothes, exclusive jewelry, etc. – all of this is referred to as “Veblen goods,” named after the economist who identified this phenomenon in consumer behavior.

In general, price factors have a strong impact on consumer behavior, and therefore pricing should be approached rationally in order to achieve optimal sales volume and profit levels.