What is demand?

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When the want is backed by purchasing power, it is called the demand. In other words,
wants are backed by the ability to pay, willingness to pay, and authority to purchase is popularly known
as demand. Marketers can create demand by using appropriate marketing tools such as advertising, personal selling, sales promotion, public relation, publicity, and direct marketing.

Similarly, It refers to consumers’ desire to purchase goods and services at a given price.

Factors affecting demand

Following are the factors affecting:

a. Price of product or service.

b. Testes and preferences.

c. Consumers’ buying capacity ( Income ).

d. Availability of substitutes.

e. Numbers of consumers in Market

f. Consumer expectations

Other Important Links:

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