Demand Analysis Methods
Posted: Sun Dec 22, 2024 6:20 am
An assessment of the future demand for a product can be made using analysis. There are different methods for this. The following are the most commonly used:
View queries in Yandex Wordstat
This database contains statistics on all usa phone list search queries in Yandex. If the name of a product is often typed in the search, it may be in high demand. You can also analyze data by region.
Use analytics on marketplaces
In particular, Ozon, Wildberries or Yandex Market allow sorting products by popularity. You must first specify the region and category in which the sorting will be performed. Then the products with the greatest demand will be in the first positions.
Analyze competitors
First comes the actual identification of competitors - they should be presented in the list. Then you need to figure out who buys their products, at what price, in what quantity, etc. From here you can conclude that there is demand for this product.
Competitor analysis for demand generation
Source: shutterstock.com
Conduct ABC and XYZ analysis
They allow to determine the sales volume and stability accordingly. These types of analysis follow from the Pareto law: 20% of investments bring 80% of profit.
Frequently asked questions about factors influencing demand
Each of the factors influencing demand for products can also prompt the manufacturer to take certain actions. When seasonal factors are in effect, it is worthwhile to pre-estimate how much sales will decrease, and to increase the list of offered goods or services in order to maintain income. In the event of an increase in production costs, it is necessary to try to improve production or find suppliers offering cheaper raw materials.
What problems can be encountered when generating demand?
The process of its formation may be associated with certain problems:
Negative reviews if the buyer was provided with incomplete information: for example, the user manual is missing or contains errors;
"head-on" sales. As a rule, new products do not sell well, and in order to interest the audience, it is necessary to organize promotions with free giveaways or discounts. Often, to increase demand, a new product is offered in addition to a popular product. In this case, users also pay attention to it;
Unreasonable price. Before launching promotional activities, it is necessary to inform the consumer about what he can get by using the product and why exactly this price is set.
Often problems are caused by poor organization of work: low competence of employees, unreliable information, low-quality products are quite capable of disrupting the process.
View queries in Yandex Wordstat
This database contains statistics on all usa phone list search queries in Yandex. If the name of a product is often typed in the search, it may be in high demand. You can also analyze data by region.
Use analytics on marketplaces
In particular, Ozon, Wildberries or Yandex Market allow sorting products by popularity. You must first specify the region and category in which the sorting will be performed. Then the products with the greatest demand will be in the first positions.
Analyze competitors
First comes the actual identification of competitors - they should be presented in the list. Then you need to figure out who buys their products, at what price, in what quantity, etc. From here you can conclude that there is demand for this product.
Competitor analysis for demand generation
Source: shutterstock.com
Conduct ABC and XYZ analysis
They allow to determine the sales volume and stability accordingly. These types of analysis follow from the Pareto law: 20% of investments bring 80% of profit.
Frequently asked questions about factors influencing demand
Each of the factors influencing demand for products can also prompt the manufacturer to take certain actions. When seasonal factors are in effect, it is worthwhile to pre-estimate how much sales will decrease, and to increase the list of offered goods or services in order to maintain income. In the event of an increase in production costs, it is necessary to try to improve production or find suppliers offering cheaper raw materials.
What problems can be encountered when generating demand?
The process of its formation may be associated with certain problems:
Negative reviews if the buyer was provided with incomplete information: for example, the user manual is missing or contains errors;
"head-on" sales. As a rule, new products do not sell well, and in order to interest the audience, it is necessary to organize promotions with free giveaways or discounts. Often, to increase demand, a new product is offered in addition to a popular product. In this case, users also pay attention to it;
Unreasonable price. Before launching promotional activities, it is necessary to inform the consumer about what he can get by using the product and why exactly this price is set.
Often problems are caused by poor organization of work: low competence of employees, unreliable information, low-quality products are quite capable of disrupting the process.