What Is a Declining Market?
It means that the level of demand for a product or service has decreased. If effective measures are not taken in a timely manner, the level of demand will continue to decline. As demand levels decline, operators must find ways to revive demand. [1]
Falling demand
- Chinese name
- Falling demand
- Foreign name
- Falling Demand
- It means that the level of demand for a product or service has decreased. If effective measures are not taken in a timely manner, the level of demand will continue to decline. As demand levels decline, operators must find ways to revive demand. [1]
- Falling demand
- Falling Demand
- Enterprise marketing tasks accurately measure potential market demand and develop effective products and services, that is, develop marketing.
- Decreasing demand refers to the downward trend in customer demand for certain products or services in the target market. Marketers need to understand the reasons for the decline in customer demand, or by changing the characteristics of products, using more effective communication methods to stimulate demand, that is, creativity In marketing or by seeking new target markets to reverse the decline in demand. Enterprise marketing tasks accurately measure potential market demand and develop effective products and services, that is, develop marketing.
- People's interest and demand for all products and services will always shake or fall. Then, in the case of falling demand, the task of marketing management is to revive marketing, that is, to analyze the cause of the decline in demand, and then develop new target markets, improve product features and appearance, or use more effective communication methods to re-stimulate demand. Make the product start a new life cycle, and reverse the downward trend of demand through creative product remarketing, so that people's already indifferent interest can be restored, that is, restorative marketing.
- For example, if any hotel keeps its dishes and tastes unchanged for a long time, it will inevitably suffer from a drastic drop in demand (there are fewer patrons). For example, people no longer intend to eat Cantonese food. You still sell Cantonese food as Lord, who wants to eat it? So if a restaurant wants to regain its former and market share, it must make its products and services always new.
- A hotel in Beijing launches a Christmas dinner every year. Because of this, the interest of guests diminishes. Customers are getting less and less every year. Later, a hotel director proposed to develop new sales hotspots. Valentine's Day Valentine's Package and Valentine's Gift will be launched on February 14. Innovative products such as lover's party and hype in the newspaper, as a result, the turnover significantly exceeded the Christmas dinner.
- Of course, the state of declining demand is powerless for marketers. Such conditions, such as the fact that few private schools have received applications for admission, are also a sign of declining demand. [2]
- The market demand for certain products that are more frequently replaced, such as the decline in the number of consumer groups after the development of a certain electronic product, which causes the phenomenon of replacement, is also a marketing strategy for falling demand.