10 tips for better marketing - Eight and four elements Demand

Tracking demand is not as simple as just tracking consumer demand. In our global economy, in order to track trends in future market, it takes a lot more than just looking at a specific niche and consumer demand for products and services. This is especially true on the Internet, where customers come from all over; demand can be very difficult to predict. But the four components of demand usually stem from four different areas of the market: Consumer, business, government and foreign demand. Once you understand this, try to keep an eye on the larger forces that can affect your niche in order to predict future demand for your area. 

Consumer demand

This is an area that companies can track very well, just by looking at their own sales, the current local or national economy, and how well their competitors are doing. There can consumer demand be down because the U.S. has powerhouse of consumer demand, lost millions of jobs since the start of the recession. Unemployment has risen to almost 7%, and may end up being in the double digits by mid-year if nothing changes. The job losses impact consumer demand, as people lose their homes, cars and other property to be retained or replaced periodically. They simply do not have the money to do it. However, it does not mean that there is consumer demand, it just means that market demand can shift, and may be more influenced by other components in a while. 

Demand Business

Companies create demand because they have to get suppliers for their products and services. They employ people who go out and buy things. They sell to each other in business-to-business transactions. Watch for the companies there is a shortage, and how it offers more potential for smaller businesses wishing to serve leftover demand is a good way to start getting a bigger picture of the demand for your niche market.

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Government Demand 

In recessionary times, takes the government to try to put some social safety nets in place. By this action, as a stimulus package they create demand for goods and services, but they end up the bill, which ultimately are passed on to taxpayers. 

Foreign demand

This is basically the export to a country minus imports. If a country like China ends with a huge middle class, they can scream for goods and services that they produce in their country, creating a demand in the U.S. So depending on how countries relate to each other and the value of the exchange rates between them, demand might rise and fall as things change across national borders.