Nothing. Because the demand for a good is a function of its price, changes in the price of that good do not cause the function to change.
However, reading between the lines I suspect that you mean “What happens to the quantity demanded of an inferior good if its price rises?” In that case, the answer is (almost always) “The quantity demanded declines, to an extent reflected in the price elasticity of demand of that good.” (Giffen goods are rare exceptions.)
Remember that what makes an inferior good inferior is that when consumers’ incomes rise, they purchase less of it. How they respond to price changes is a completely different matter – the price elasticity of demand for an inferior good may be large or small, depending on the good in question.
It might seem odd that Marketers would want to learn Finance but when you consider it more broadly the reason becomes apparent. As a Marketer myself I can say I wasn’t born into the field. Rather, Marketing has chosen me as Sales and Business Development has in the past.
Early on in my career I knew I would be involved in some sort of business and the language of business is money. To truly understand a business, you must understand Finance. Knowing how the money flows and what constitutes a healthy balance sheet and income statement is critical. If you can look at an annual report and understand what’s being said, it will provide deep insight into what’s really going on at the company.
Furthermore, if you ever start a business, finance education will provide a solid foundation on which to build your ideas upon. Understanding cash flow, how to write a business plan, capital markets and all the rest will aid your start-up process.
So a Marketer who knows Finance is a “double threat”. They understand how to bring in customers as well as the financial impact of their actions.
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