Question

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.

Answer 1

Demand of a product depends upon following parameters

1.cost of the product

2. quality of product

Neha should check costs and quality of same type of product already available in he market and  prepare a report of those products then  suggest management to keep the product cost low without compromising on the quality of product.

lower cost and higher quality products will have more demand in the market.