answersLogoWhite

0


Best Answer
Creating DemandThis 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.
User Avatar

Wiki User

โˆ™ 2011-01-09 19:42:31
This answer is:
User Avatar
Study guides

Economics

20 cards

How long does it take for a check to clear

Are chemicals safe

How could the federal reserve encourage banks to lend out more of their reserves

What is M2 today

โžก๏ธ
See all cards
4.16
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
74 Reviews

Add your answer:

Earn +20 pts
Q: How do you create demand for your products or services?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Who establishes supply?

Supply is determined by the manufacturers, suppliers, those who create products or services.. demand is created by those who use the products or services...


What is the role of merchandiser?

Providing supply of products, or services to demand.


What the roles of merchandiser?

Providing supply of products, or services to demand.


How population affects demand?

When demand for goods go up if it is expected to rise. the higher the population the higher the demand for the products or services


Why do businesses might want to create demand?

Its Simple! When Businesses Will Create Demand, Consumers Will purchase their Goods Or Services; In Result, Their Will Increase Their Sales & Profit.


What is a difference between marketing and retailing?

retailing is selling the products and services from one particular point and marketing is creating the demand for the products and services and then selling them in the market.


How do you sell a spoon?

Every sales if merely depend on the concept of demand and supply. And if there's no demand for the products or services that you are selling, you have to create one! Create a demand in the market, that's talent! That's Sales! then you can sell anything and everything whether it's a pen or a branded shirt! Learn such key sales and marketing tips through online sales training courses.


What should a marketer do when it face no demand?

The marketer should creatively create a demand for it's products via media sources using PR and advertising.


What are some services provided by Charter on Demand?

There are many different services that are provided by Charter on Demand. Some of the services by Charter on Demand include TV services, Internet services and Phone services.


Is the core of a business the operations that create the products and services for delivery to the customer?

Yes. In most firms, operations represent the core of the business. This is where its products and services are created for delivery to customers.


What are the purposes and objectives of market research?

Figuring out about the market opportunities, your competitors products/services, the needs of your demand, etc.


How producers differ from consumers?

Producers create jobs and products for consumer use. Consumers use products or services provided by producers.

People also asked