When a purchase requires a large portion of income demand for the product?

When a purchase requires a large portion of income, demand for the product tends to be more elastic, meaning consumers are more sensitive to changes in price. As the cost increases, buyers may seek alternatives or forgo the purchase altogether. Additionally, such products often fall into the category of luxury or non-essential goods, where consumers weigh their options carefully. Consequently, marketing strategies for these products often emphasize value and necessity to encourage purchases.