Marketing and the Demand

A Product or a Service in any business need to be created or improved from an existing resource and the organization should make more effort in order to place and sell the product or the service to the customers than creating it.

The best communication leads to the best results of the sales margin of the product or the service of the organization providing the customers. The 'marketing concept' proposes that in order to satisfy the organizational objectives, an organization should anticipate the needs and wants of potential consumers and satisfy them more effectively than its competitors.

Hence, Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

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  • Needs: Something necessary for people to live a healthy, stable and safe life. When needs remain unfulfilled, there is a clear adverse outcome: a dysfunction or death. Needs can be objective and physical, such as the need for food, water, and shelter; or subjective and psychological, such as the need to belong to a family or social group and the need for self-esteem.

  • Wants: Something that is desired, wished for or aspired to acquire. Wants are not essential for basic survival and are often shaped by culture or peer-groups.

  • Demands: When needs and wants are backed by the ability to pay, they have the potential to become economic demands.

Types of Demand

Demand is considered to be the core factor of any business entity to survive and sustain in the industry. There are various demands that has to be considered into account,

  • Negative Demand - Consumers may dislike products.

  • No Demand - Consumers are unaware or not interested in the product.

  • Latent Demand - Consumers have a stronger need that cannot be satisfied by the existing product.

  • Declining Demand - Consumers start buying less frequently.

  • Irregular Demand - Consumers purchase vary on monthly, weekly daily basis

  • Full Demand - Consumers buy the product adequately.

  • Overfull Demand - More consumers would like to buy the product.

  • Unwholesome Demand - Consumers may be attracted to products that have undesirable consequences.

> Read next to Know What is Digital Marketing and Why Digital Marketing is important?

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About the blogger

Hi, I'm Kasini vendan an aspiring youth with a lot of dreams to be cherished and a purposeful soul who is more concerned about educating every human being. Not the future but the present is in the hands of youth to build the near future.

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