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Understanding Consumer Value, Essay Example

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Words: 678

Essay

Substitute is a product or a service, which, satisfy the needs of a consumer that another products or service can also fulfill. The substitute can be imperfect or perfect depending on whether the substitute can satisfy the consumer partially or completely. Substitution of products or services arise when the relationships of demand schedules are examined and the prices of different goods changes (Soderlind 119). Relationship between demand schedules leads to the classification of goods as either complements or substitutes. Consumers will choose their substitutes with respect to their daily activities.

Eggs are great sources of numerous vitamins like potassium, vitamin A, B vitamins like biotin, choline, and folic acid. In addition, the egg is a great source of proteins. Very few foods, which are substitutes of eggs, share the same diverse nutrients, which are available in one egg. Many of these nutrients are needed for the health of the brain and nerves, which may not be available in the other nutrients. There are many health benefits in hams as compared to other substitutes for breakfast. Ham serves as fabulous source of high quality proteins, which cannot be obtained from a single substitute like vegetables (McEachem 320). The ham contains all the required amino acids used in the body. In addition, ham contains high quality iron as compared to other substitutes originating from plants.

Regular tennis shoes provide the necessary comfort, thrust, and support, which are vital for easy movement of players on the court. It also provides protection to the feet of the players. It is noteworthy that regular tennis shoes come with shoes fitting, which is designed with a guaranteed gap for easier movement of players on the court. Regular tennis shoes provide lateral support to the shoes, which helps in preventing ankle injuries. It also helps the player to run on the court and in between the sides of the baseline. The other tennis shoes like Nike and Adidas shoes do not have such benefits. Therefore, this makes regular tennis shoes to be the best substitute. Regular tennis shoes are affordable to everyone and can serve the same purpose as compared to other expensive shoes like those of Nike and Adidas (McEachem 287). The consumer will go for regular tennis shoes as a substitute because he/she can afford.

Taking a bus is of greater benefit to the consumer than any other means. This is because the bus service reduces traffic on the roads. The bus can even replace up to 20 cars, which could have been on the road and thereby reducing traffic. This will assist the consumers to reach their destinations on time without being affected by the traffic delays on the roads. The buses offer reliable, flexible, and cheap services to consumers. The bus services can be affordable and reliable to every consumer unlike other vehicles such as cars, which are more expensive and unaffordable to poor consumers.

A department store is whereby the consumer can access all the goods and services under one roof. The consumer will purchase all the products in one roof, and therefore, saving time. This is because the consumer will not move from one shop to another. This will make the consumer choose a department store as the best substitute. In a department store, the consumer will have a chance of selecting the best choice of the goods depending on his/her needs. It is possible for the consumer to select the best choice because variety brands and products are available at the department store (Soderlind 157). In a department store, the consumer will buy goods at a lower price because the products are stocked in large quantities. Department store is the best substitute for the consumer because the products are cheap and they are stored in large quantities for them to select their favorite products. The department stores are spacious, and consumers can inspect the goods before leaving to make sure that they are of the right quality and quantity.

Works Cited

McEachem, William. Economics: A Contemporary Introduction. United States: Cengage Learning, 2012.

Soderlind, Steven. Consumer Economics: A Practical Overview. United States: M.E. Sharpe, 2001.

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