Title: 5 Types of Product Demand - Simplicable
Headings: 5 Types of Product Demand
5 Types of Product Demand
Unsought Product
Commodity Demand
Market Fit
Latent Demand
Generated Demand
Business Models
Business Models
Customer Convenience
Latent Demand
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top » business » business models » products » product demand
5 Types of Product Demand
John Spacey, July 20, 2017
Product demand is customer willingness to purchase a product or service at a given price. Demand is a basic economic force that drives a firm's revenue. The following are the basic types of product demand. Unsought Product
A product with little or no demand because it doesn't serve a customer need or customers don't understand it. Unsought products also include things that are depressing to buy. Commodity Demand
Demand for a commodity such as apples. Individual producers don't influence demand as consumers see commodity products as all the same. Market Fit
A product that uniquely serves the needs and preferences of a target market. For example, a movie that is entertaining with good reviews and many fans. Latent Demand
A customer need or preference that isn't served by any products or services in the market.