Daffodil International University
Faculties and Departments => Business & Entrepreneurship => Business Administration => Topic started by: Shah Alam Kabir Pramanik on April 19, 2017, 09:56:58 AM
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There are five types of industrial demand. They are:
1. Derived demand
2. Environmental forces influence demand
3. International competition
4. Stimulating demand.
5. Price sensitivity.
1. Derived demand: The demand of industrial products is derived from the ultimate demand of consumer demand that means the demand of industrial products is depends on the consumer demands. Industrial customers like commercial firms, governments, institutions purchase goods and services to produce other products and services which will be consumed by their potential customers. So here demand is derived from the ultimate consumers.
2. Environmental forces influence demand: In monitoring and forecasting demand, the industrial marketer must look after carefully some factors like; competitive, economic, political and legal environment that directly or indirectly influence the final demand. For an example Japan has competitive advantages over technology based production for that she produces technological product as it has demand.
3. International competition: Now-a-days an increasing number of industries are not domestic but world wide market share. As a result competition in industrial is increasing. So, the companies should target those markets whose needs can be satisfied and whose competitors can be handled.
4. Stimulating demand: In industrial marketing the industrial marketer should first observe the demand. Then he should stimulate the demand of the ultimate consumer.
5. Price Sensitivity: When the ultimate consumer will be price sensitive then the industrial producer also be sensitive to the price. As a result the industrial marketer should pay keep attention to the price and demand.
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thanks and Keep sharing
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good
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Welcome