In modern business, there are many ways to attract the attention of buyers and thereby increase the demand for products. Each of the models for increasing consumer demand is based on both traditional knowledge and methods and innovative solutions.
It is necessary
- - advertising company
- - price instruments
Instructions
Step 1
Start by identifying the reason for the lack of demand for a product or service. To do this, you need to analyze the target market for this product. There are three main reasons for the decline in demand. The first is the oversaturation of the target market with this type of product or service. The second reason assumes low awareness of potential buyers about this product or service. That is, buyers simply do not know about the existence of this product and about the methods of purchasing it. And the third reason may be the low interest of consumers in this particular group of goods or services. Once the exact cause of the lack of demand has been identified, it is easiest to develop a strategy to address it.
Step 2
Develop a strategy to improve demand based on the reason for the lack of demand. If the reason was the lack of information content, then it is necessary to conduct an extensive advertising campaign using various media: newspapers, radio broadcasting, television, billboards and mailing lists. In case of oversaturation of the market with this type of product, you can rebrand it, with the introduction of innovative elements, or, with the help of an advertising company, expand the supply of information about this product. In the case of low interest of buyers in this type of product, the method of convincing consumers that they still need this product is used. To do this, it is necessary to overcome and break down all negative stereotypes that turn buyers against this product. In an extreme case, it is possible to allow a slight decrease in the price of the product, in order to interest a specific group of consumers.
Step 3
Maintain the existing level of demand for goods or services, after improving it thanks to the implemented strategy. To do this, you need to apply pricing tools, such as: seasonal discounts, discount cards, distribution of product samples, contests or prize draws.
