Factors to consider when accessing product demand

Entrepreneurship-and-Communication-Skills-notes
  1. Market potential – this refers to the potential number of buyers and the quantities they can purchase at a given time and time.
  2. Industry sales – where the industries sales are on firing scale, it means the demand is high.
  3. Market share – this is the market share occupied compared to the competitors implies high demand for the product
  4. Multiple factor index – this is where demand is analyzed in relation to the factors that affect it, e.g. an area with a high population is accessed to have a high demand
  5. Segment analysis – demand can also be estimated analyzing the market potential for different segments of market
  6. The current sales trend – where the sales trends are rising, demand is accessed to be high.
  7. Analyzing the technological trends – there are changes in technology. They can help to access the direction of demand.
  8. Demographic /social trends – it helps to access future direction of demand
  9. Government policies and directives – government has directed all newly constructed buildings to install solar panels thus one can access demand for such products rise.



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