Abstract
Demand analysis plays a central part in the process of product planning. In principle, a firm should be continuously reviewing the demand situation not just for its existing products but also for products it might want to produce. In practice of course the cost of collecting and processing information (a major component of which is the managerial time required to digest it) limits the search for information to those market areas in which the firm is currently involved. Even where research is as limited as this, it often consists of simply obtaining market research information on the current state of the market (especially in terms of market shares) without any attempt at forecasting likely developments in the market on different assumptions about consumer behaviour, income, technical developments and so on.
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Notes
For a description of this work and its relation to demand for transport, see R. Quandt, The Demand for Travel, Theory and Measurement (London, 1971).
For a good summary of the work in this area, see A. D. Shocker et al., ‘Towards the improvement of product search and screening’, in Marketing Involvement in Society and Economy, ed. P. R. McDonald (American Marketing Association, 1969 ) pp. 168–175.
V. Steffire, ‘Market Structure Studies: New products for old markets and new markets for old products’, in F. Bass et al., Application of the Sciences in Marketing (New York, 1968) pp. 251–268.
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© 1976 Merlin Stone
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Stone, M. (1976). Demand and Product Planning. In: Product Planning. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-02250-2_3
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DOI: https://doi.org/10.1007/978-1-349-02250-2_3
Publisher Name: Palgrave Macmillan, London
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