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
demand of the product in the market can be increased by following factors
keep the quality of product high
keep the cost of product as low as possible
keeping these two factors in mind neha should prepare a report.
she should note prices and quality of same kind of products already available in the market.then she should suggest management to keep the price of their company product low and make sure that quality of product is also high than already present same kind of products in the already available in the market.
to high supply and demand of product
If Neha has to prepare a report then she first need to understand the factors that can influence the products demand and supply in the market.
The factors, which are important to taken into consideration here, are price fluctuations, income and credit availability, competition presence of the substitute products, seasonal effects and trends, advertising and so on.
After considering these factors, she can prepare the report.