Neha has just completed her MBA and joined a startup company. The company was planning to launch a new product in the market so the management wanted to understand the different factors that can impact the demand and supply of their products in the market. Help Neha to prepare a report on the factors impacting demand and supply of products in the market.
Answers
Neha should start with gaining knowledge of -
availability of alternative products that are present in the market. It will give company an idea to know its competitors and market product accordingly.
Income level of people where company wants to market its product.
Price fluctuation of product and also fluctuation of price in the competitor’s product.
Possibility of commercial advertising and its cost.
Size of the market.
Government policy regarding the product.
The factors affecting the demand & supply of products within the market are price fluctuations, Credit and income, availability of competition, availability of similar alternatives, current trends, commercial advertising and seasons.
Neha can research on the following topics to note down the different ways how they can impact the same.