Expanding Total Market Demand Homework Help

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Market demand is the aggregate of all individual demand for the products from the buyers in the market and demand is the quantity of goods or services that a customer is willing to buy at a specific price in a given time period. If the buyer enters the market with the ability to buy or pay for the product then the market demand increases. It is not a simple task as other firms continuously challenge the leader’s strength and try to know the weakness of the firm but with the help of expanding total market demand homework help you can solve your problems. The total demand for a product in a market as a whole is market demand and is calculated to estimate the level of production output and to determine the optimal level of the market

Ways of expanding the total market demand

  • Attracting new consumers:

The company concentrates more on bringing up new incentives and other promotional activities to attract new customers. The firm has to take care about the consumer review keeping high quality product as it affects the market. It involves steps like free sampling, increases the promotion

  • increase the usage:

Companies try to increase the use of the goods as it helps in increasing the sale and build good reputation of the firm in the market

Factors influencing the market demand

No doubt to say that recognising a market demand is a tough task and students fails to understand the graph work of economics but now with the help of expanding total market demand assignment help you can solve your issues.  The demand of any product depends upon its price it changes with the change in its price such as increase in the price may lead to decrease in the demand of that product whereas decrease in the price may lead to increase in the demand of goods.

  • Taste and preferences of the consumers:

This factor highly affects the demand of goods and services as it changes with the varying fashion, attraction of consumer to products which are advertised in better way, quality of the product and many more. When the taste and preferences of a consumer are more for any goods then the demand graph will lie at higher level

  • Income of the people:

The greater the income i.e. the purchasing power of the consumer greater would be the demand for products and lower the income of the customer lesser demand for product. When income of any customer increases they prefer buying more goods having good quality without caring about their pocket and the demand curve shifts upwards whereas when the income of the people falls they lesser their demands for any products as a result of which demand curve shifts downwards

  • Change in the price of products and services:

When the price of any goods change it leads to change in the demand curve because many customers prefer buying low price goods and if the price increases they would rather prefer buying the substitute of that product. For example: tea and coffee are the substitutes such as if the price of any product changes the customer prefer buying other for their satisfaction.

  • Advertisement:

Demands highly depend on the ads made by different companies because they focus on targeting consumer and influencing them through different promotional activities. Various source of advertisement are newspaper, internet, television and radio which are used for successfully increase the demand by influencing people.

  • Customer’s expectation:

This is one of the important factors used for increasing the demand and it focuses more on consumer expectations. Due to some reason if the price of any goods increases in future then the customer tries purchasing it in bulk so that they do not have to spend more in the future.

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