Supply and Demand for the Product

Supply and Demand: 

If no one wants what you are offering, you will not succeed in sales. You therefore, need to know if there is a market for your product(s) or services. Years ago, much of the mail order business was directed at getting products into the hands of people living in rural areas where such goods were not as readily available. By meeting the demand for such items, mail order flourished in this manner. Today, however, there are few rural areas in which you won't find at least a strip mall selling most of the popular conveniences. The demand for your product or services, therefore, comes from a wider scope of the population, and you need to seek out whether there is such a market and where it can be found. This means finding not only fishermen who will like your new fishing products, but also fishermen who are not already receiving catalogs from three other such mail order businesses that have beaten you to the punch. Demand means areas or markets that are underserved. A glut of companies selling the same type of items will reduce or eliminate the demand.

Product Creation

Many organizations have created or acquired that they assumed that would sell well and in their enthusiasm, set up everything. However, a lot of these marketers have forgotten the important factor that will affect their product is sell ability of the product.

When an organization start thinking about creating product or buying rights to a certain product to sell, the most important factor you must take into consideration is the demand of the product. Think whether people want your product or not. Customer satisfaction is very important while marketing the product. When there is demand for the product then your business will have continuous cash flow and can run the successful business.

Your ultimate aim is to achieve the customer satisfaction by occupying the seller’s need to convert his product into cash. In order to do this and earn revenue for your business you must make sure your customer wants to buy your product.