Abstract
There are two basic approaches to the analysis of demand. The first discusses the links between the quantity of a product demanded and variables such as price, income of buyer, advertising expenditure, and so on. The second approach, which is highly developed in the market research literature, analyses buyers’ demand for product characteristics and how this demand is translated into demand for particular products (e.g. how demand for comfort, speed, acceleration capacity, etc. arises and is translated into demand for particular kinds of transport).
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Notes
For a summary of this technique, see W. J. Baumol, Economic Theory and Operations Analysis (Englewood Cliffs, N.J., 2nd edn, 1965) Chapter 20.
For a full treatment, see H. B. Chenery and P. G. Clark, Interindustry Economics (New York, 1959).
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© 1980 Merlin Stone
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Stone, M. (1980). Product Demand. In: Marketing and Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-16426-4_5
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DOI: https://doi.org/10.1007/978-1-349-16426-4_5
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