When consumers are brand loyal, the term inelasticity of demand is often used. This means that
a. consumers won't accept price increases for a particular product category.
b. consumers are less sensitive to price increases for a brand they like.
c. firms have the flexibility to lower prices if this will increase sales.
d. firms may decrease production in order to increase demand.
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Home » Business » When consumers are brand loyal, the term inelasticity of demand is often used. This means that a. consumers won't accept price increases for a particular product category. b. consumers are less sensitive to price increases for a brand they like. c.