keeping up with the market demands
TRANSCRIPT
Keeping Up With The
Market Demands
There are methods you can use to come up
with correct predictions on market
demands and base on that to produce the
most appropriate supply for your customers
Take A Look At The Past
Check the history of the industry your
business your company is operating in to
see if there’s any potential for a new
product or service
Check For Substitute Products
If you can identify what exactly the
customers are looking for based on the
substitute products they are buying on the
market, you’ve hit the jackpot
Talk To Prospective Buyers & Intermediaries
Through talks with prospective buyers and
intermediaries, you will be able to define
the current trend of the market and make
predictions & solutions based on it
Limited Production & Release
By releasing a limited amount of product
batches into the market, you get the
chance to find out what the consumers
really think about the product idea
A Test Market
The results from the test market will be
used to tweak anything that could become a
problem in marketing, distribution, or
product before the “real” nationwide
official launch
Forecasting market demand for new
products and services is NOT an exact
science, so be careful with your judgment
& always have a contingency plan on hand
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Questions, Comments or Clarification?
Contact: Maverick Mentoring For Business
Email: [email protected]
Phone: 61 3 9005 8275