Price sensitivity has a direct impact on sales volume. If customers are highly sensitive to price, a small increase in price can lead to a significant drop in sales volume. Conversely, a decrease in price can boost sales volume. However, this depends on the elasticity of demand for the product. If demand is inelastic, changes in price will have less impact on sales volume.
How do you take your product management to the next level? Due to popular demand, we've expanded our...
Download template