How To Create Market Demands

By | January 30, 2017

No matter how big the consumer consumption, the gaps remain that separate what consumers really want from the goods and services that they receive. Such gaps represent opportunities for the creation of new demand.

Good businessmen are creators of demand. They reimagine the reality and then rework it. The result of that process is that they end up engineering products that customers cannot resist and that the competition cannot copy. This process entails taking several steps that all the great creators of demand follow.

Create Attraction

When it comes to creating demand, it is not the first speaker who wins. The victor is the first one to create and capture the emotional space of the market.

Look for Flaws

Most of the products available are imperfect and generate drawbacks. It is very rare that consumers enjoy everything they want or have a perfect customer experience. Make the service more simple but with more options, provide greater automation but at the same time personalized service, give better quality but lower prices. That’s where the demand creator creates enormous opportunities.

Consider all background

The things we do not see can make or destroy a product. As long as the whole context and all background are not clearly constituted, the demand simply does not occur. Demand creators connect all the points needed to map the client’s drawbacks.

Find the Detonators

The biggest obstacles to creating demands are inertia, skepticism, habit, and indifference. Although often even the best companies take years to find the detonators indicated. The great creators of demand no longer waste time experimenting with this and that. They provide what is needed to gain undecided customers.

Project a Path of Improvement

The launch of a product is nothing more than the first step in a series of attacks against market indifference. On the very day of the launch, the great creators of demand jump to the next phase with a simple question:  “How fast can we make ourselves better?” They know that any improvement they make whether technical or emotional will open up new layers of demand and will close spaces to the opportunistic imitations of the competition.

Consider Every Customer’s Needs

It is to look for efficient and cost-effective ways to create product variations that best fit the changing needs of different types of customers discarding surplus (which we do not want) and gaps (gaps we want to fill). Every customer is different and it is difficult to provide different options and product variations that will perfectly meet the individual needs. The great creators of demand are constantly improving between 60% and 90%, adjusting their product against different types of customers.

The process of demand generation gives entrepreneurs an advantage by being able to provide product or service that consumers will be genuinely interested in buying.

 

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