Final answer:
Consumers are more sensitive to sales promotion due to multi-brand loyalty, their preference for price and value over brand, and the influence of in-store promotions.
Step-by-step explanation:
Consumers have become more sensitive and responsive to sales promotion for several reasons.
Firstly, there is a tendency for consumers to be multi-brand loyal; they do not commit to a single brand but instead try different brands. Secondly, consumers increasingly base their purchasing decisions on price, value, and convenience rather than brand loyalty alone, as the competitive market offers a wide variety of goods and services. Lastly, many purchase decisions are made in the store, a place where sales promotions are highly visible and can influence buying behavior on the spot.
This responsiveness is a consequence of the evolving landscape of advertising and branding, where information about satisfaction from goods or services can sometimes be unclear, potentially leading to buyer's regret or cautious future purchasing. Moreover, the rise of department stores and national brands, highlighted by fixed pricing and standardized advertising, has played a central role in shaping modern consumer behavior.
Therefore, the correct answer is that consumers have become more sensitive and responsive to sales promotion because of all of these reasons.