Segmentation marketing is important for business for competing and success. In today’s market companies will face many states of demand for their products and services.
Business needs to recognize and understand the state of demand for their product and the correct marketing mix to apply for each state.
There are 8 states of demand: negative demand, no demand, latent demand, falling demand, irregular demand, full demand, overfull demand and unwholesome demand.
Companies must understand how to manage the demanding state.
Examples of every demand are given here:
i) Negative demand- This occurs when a major part of the market dislikes the product and may even pay a price to avoid it.
Example of negative demand: Dentist, many people avoid seeing the dentist.
ii) No demand- Here the target market may be uninterested or indifferent to the product.
For example, a young couple may not be interested in adopting family planning. Cam therapy. People still want to do it if doctors reduce their prices.
iii) Latent demand- a strong need or demand that cannot be satisfied by any existing product.
Example – Safe cigarette, calorie-free potato, a low cholesterol egg.
iv) Faltering demand: the market share of that product starts decreasing or fails to grow at an acceptable rate.
Example: High School student list for college, uses of walk phone declined when iPod come. Uses of cell phone rose rather than wire telephone.
v) Irregular demand- demand that varies on a seasonal, daily, or even hourly basis,
Example: Restaur0ants and movie theaters, Museums are visited less during weekdays and overcrowded during weekends. Flat call rates.
vi) Full demand: when the demands are always the same and high for the products.
Example: medicines and their demand never decline.
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