Each person has personal needs, and the desire to purchase a product that would satisfy them creates demand. And demand in marketing is an object of work: research, analysis, influence.

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Demand in marketing: specifics

Demand is a consumer's requests for a certain product to satisfy their needs and willingness to purchase it at a certain price. Otherwise, financially proven need. If you are interested in free us business directory, follow the link to find out more.

Lower cost - higher demand: the law of supply and demand shows. This applies to all goods, except for the so-called Giffen goods: we are talking about those for which an increase in price leads to an increase in demand and vice versa. These are essential goods that cannot be replaced by anything, for example, bread, buckwheat, pasta, etc.

Types of demand

There are many types of demand that depend on many factors: the degree of satisfaction of needs, purchase intentions, place of purchase, trends, methods of formation, social habits, price policy, state of the economy, etc. But those that are affected by the state of demand are called key. Depending on the state, a marketing strategy is chosen to achieve a balance between supply and demand. To learn more about best online background check, follow the link.

• Full value. It is also called satisfactory. It is characterized by a balance between the production of goods and consumer requests. Supportive marketingused to maintain the optimal level.
• Hidden. There is a need for customers, but there are no products to satisfy them. For example, a cure for all diseases or a time machine. This is a kind of impetus to innovation. An effective tool is developmental marketing (it is also called new marketing).
• Absent. The product is not at all interesting to the consumer, it causes only indifference. Stimulating marketing deals with the promotion of the product in this case, making efforts to interest the user, to show what needs the product will satisfy.
• The one that decreases. The attractiveness of the product in the eyes of consumers gradually falls, and they abandon it. Remarketing savesthe day: it either improves the product or reveals its hidden qualities and makes them visible to the consumer.
• Negative. Consumers are negatively disposed against a certain product, believing that it brings harm. For example, against yeast bread, believing it is harmful to yeast, or microwaves, fearing radiation. Conversion marketing uses tools that change the minds of customers who believe the product is harmful.
• Irregular (the one that fluctuates). The need for a product or service depends on the season, day, time of day. For example, movie theaters are busy in the evenings, umbrellas are actively bought in the fall, and the demand for suntan cream is relevant in the summer. Synchromarketingused for balance.
• Irrational. These are consumer needs for goods that harm health or the environment. For example, plastic products, cigarettes, weapons, etc. Countermarketing restricts consumer access to these products or significantly increases the cost.
• Excessive. The demand for the product is so high that production cannot cope. In this case, demarketingstabilizes: switches attention to analogues, raises prices or stops advertising.