Types Of Demand in Marketing

The art of Marketing is changing day by day. Now Marketing has become a permanent part of any Organization. Thus the Marketers are also improving their skills and the way of their thinking style. Any Organization whenever thinks about a new product or services, it is mandatory nowadays to analyze the demand.

There are Generally 8 types of Demand in the Market.

  • Negative Demand: This type of situation arises when a large part of Target Market dislike the product or service and even pay a price to dislike it. This is the time the marketers have to think and re-analyze their Marketing Mix strategy. They may pull the existing product from the Market and make some modification accordingly and relaunch it.

  • No Demand: The Target market may be unaware of the product or service. This is due to the inappropriate advertising strategy used by the Marketer. Proper awareness is required among the consumer to buy the product or service.

  • Dormant Demand: This situation arises when the Product or services failed to satisfy the strong needs of the customer. This happens due to wrong Market Research about the demand. Marketers should ensure the sufficient supply of their Product or services as per the need of Customer.

  • Falling Demand: Sooner or Later every company faces this phase. This is a part of a Product lifecycle. After a certain time everything needs a change so does product or services. We may like something today but may not like it tomorrow. Every day something new is coming up in the Market so our tastes also change. In this phase, Marketer should focus more on Promotions and modification in product features.

  • Fluctuating Demand: This type of Demand varies according to the situation like festivals or seasons. In Monsoon the demand of Raincoat, umbrella increases, In some festival season the demand for various garments increases. Therefore Marketers should be aware of various festivals and customs of a particular region or Market so that they could anticipate the particular situation and launch the product or service accordingly.

  • Full Demand: All Organization aspires and works hard to face this situation where there is a perfect blend of demand and supply.

  • Excess Demand: In this situation, the demand is more than the capabilities of an Organization. It looks similar to latent demand but it is completely different. Latent demand is the result of the mismatch in Market Research but in this case, Company already knows that demand is huge and their capabilities are limited to meet those demand. Marketers, in this case, may try De-Marketing approach either by increasing the Price or reducing the Promotional activities.

  • Unwholesome Demand: This concerns managing demand for harmful products in the market. The marketing tasks involve here is to make the customer aware of the harmful effects of those products. For example Cigarette. Nowadays every pack of cigarette comes with a warning message and picture that “TOBACCO CAUSES CANCER”. But the Question is – DOES IT WORK?

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