5. Expectations of future changes

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Consumer expectations also play an important role in shaping demand. If consumers expect prices to rise in the future, they may start buying in advance, which will increase demand. Conversely, if prices are expected to fall, consumers may postpone purchases.
6. Substitute and complementary goods
Demand for a particular product also depends on the availability of substitutes. For example, if the price of gasoline increases significantly, demand for electric cars may increase. At the same time, if the price of smartphones increases, this may lead to an increase in demand for accessories such as chargers and cases.
consumer demand
Types of consumer demand
Consumer demand can be of different types depending on the level of satisfaction vietnam mobile number list of needs and the state of the market. Let's consider the main ones.
1. Market of high-quality goods
Demand for such products remains stable or even increases despite rising prices. These are products that meet the needs of a certain segment of the audience that values ​​high quality and uniqueness. An example would be luxury clothing or car brands, for which there is stable demand despite high prices.
2. Market of essential goods
Essential goods (food, medicine, household chemicals) have a stable demand. People will buy these goods in any case, no matter how much the prices change. In some cases, such demand may even increase if the goods become scarce.
3. Market of goods with elastic demand
This type of demand depends on price changes. If the price of goods or services changes, it significantly affects the volume of purchases. For example, the demand for clothing, shoes, electronics can change depending on the season, promotions or sales.
4. Seasonal demand
Some goods and services have seasonal demand. For example, demand for air conditioners and fans increases in summer, and for winter tires in autumn. It also depends on climate conditions and customer preferences in different seasons.
consumer demand
How does consumer demand influence marketing and business strategy?
Understanding consumer demand is the basis for developing effective marketing strategies. Companies that carefully analyze and forecast demand can not only optimize their sales, but also significantly improve their financial performance.