Market Demand
Content
Definition
Market Demand is the total demand for a product or service in the market.
Usage and Context
Market demand shows how much of a product people want. It helps businesses know what to sell.
Frequently asked questions
- What does market demand mean? Market demand is about how much people want a certain product or service. It adds up everyone`s interest in that product.
- Is market analysis the same as competitive analysis? No, they`re different. Market analysis looks at the whole market, including customers and sales potential. Competitive analysis focuses only on the competition.
- Why is market demand important? Market demand is key because it tells businesses what customers are looking to buy. It helps in planning what to sell and how much.
Benefits
Knowing market demand helps businesses make what people want. It guides product development and sales strategies.
Conclusion
Market demand helps businesses decide what to offer. It`s about understanding what people want and responding to it.
