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Sales and Customer Service
Psychological Disciplines
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How do you create demand for your products or services?

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January 09, 2011 7:42PM

Creating Demand

This has been a controversial question in economics. Some economists have argued that this is the role of advertising. Advertising supposedly creates demand.

Other economists say that's bull. Advertising just tries to get the consumer's attention so that they know a product or service is available. This isn't creating demand, it's tapping into latent demand.

In practical business, I think the latter position seems much more realistic. If you try to "create demand" you're likely to fail. An entrepreneur should try to identify market segments that are un- or under-served.

Here are more opinions and answers from other FAQ Farmers:

  • There are a few little marketing tricks you can use. They won't work on everyone, of course, but it will work on certain kinds of people. And they really are simple things. For example, use phrases like 'while supplies last' or 'limited supply', 'limited time offer.' You can also offer incentives. 'a free (thingamabob) with the first 100 orders.' Of course, if your product is garbage or if the service you offer is substandard, there is little you can do - except improve your product or service! Perhaps I should not have said marketing 'tricks.' That sounds dishonest. Tips, strategies or techniques would be more appropriate. Do a little research on marketing and promotion for more ideas. You may not be able to create a huge demand, but a little is a good place to start. If your product or service is good, and you provide the best customer service you can, word of mouth can be the best advertising you could ever ask for. Build yourself an impeccable reputation and the demand for your product or service will follow. And don't neglect more traditional and common forms of promotion either. Be patient and diligent. If it's worth having, it's worth working for.
  • SELL yourself to the customers and they will bring more customers. You are your most important product.
  • The more exclusive something appears to be, the more someone will want it. Especially at the lower rungs of the socio-economic scale. Create the illusion that only a "select few" can have access to your product, and I guarantee you'll have people flocking to buy it, probably those who can least afford it, but that's not your problem.