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What is the Difference between want and demand?
demand is when a customer is demanding something want is when a customer wants something and desire is when a customer really want something
What is the difference between demand wants and desire?
demand is when a customer is demanding something want is when a customer wants something and desire is when a customer really want something
What could cause a shift in demand?
A shift in demand can be caused by various factors, including changes in consumer preferences, income levels, and the prices of related goods. For instance, if a new health trend makes a particular food more popular, demand for that food would increase. Similarly, an increase in consumer income can lead to higher demand for luxury goods. External factors, such as advertising, seasonal changes, or economic conditions, can also significantly influence demand.
What changes are there in customer demand popularity of organic food freerange foods and locally grown food?
As consumers become more aware of additives in foods and the way animals are raised on factory farms. the demand for organic, free-range, and locally grown foods are increasing. Some people are also choosing organic foods to avoid GMOs in foods and the harmones and antibiotics that are given to animals because they believe organic foods are healthier.
What is the customer demand in the UK for international food such as ethnic groups who live in the UK and international travel speed of importing goods?
There is demand for ethnic foods such as Indian cuisine in the United Kingdom. There are also demands for American food, Middle Eastern Food, and Asian Food because many different nationalities travel to, and live in, the United Kingdom.
How do changes in demand differ from changes in quantity demanded?
Changes in demand refer to shifts in the entire demand curve due to factors like consumer preferences, income, or population. Changes in quantity demanded, on the other hand, refer to movements along the demand curve in response to changes in price.
What causes the fluctuations in the business cycle?
Customer's needs change during business cycles, which cause demand for products to shift. Managers must recognize these changes and plan accordingly.
When a change in price does not lead to changes in demand the demand is called?
inelastic demand
Customers will demand different responses to create rapport and achieve customer satisfaction?
Each class of customer will demand different responses to create rapport and achieve customer satisfaction. The class of a customer is determined by their buying patterns and payment behavior.
What is demand uncertainty?
You don't know how much need there is out there for your service or product.
A graph example of supply increase without changes in demand?
If a seller increase supply without changes in demand, his business will not last. He will have more supply than demand.
What is a pull factory?
A pull factory is a manufacturing approach that emphasizes producing goods based on actual demand rather than forecasted demand. This method helps minimize overproduction and excess inventory by utilizing a pull system, where production is triggered by customer orders. The goal is to enhance efficiency and responsiveness in the supply chain. By focusing on real-time demand, pull factories can adapt quickly to changes in customer preferences and market conditions.
