demand analysis

Definition

Research into the desire of consumers for a particular product or service. Demand analysis is used to identify who wants to buy a given product, how much they are likely to pay for it, how many units they might purchase, and other factors that can be used to determine product design, selling cost, and advertising strategy for a product.

Use demand analysis in a sentence

You should try and do a thorough demand analysis so that you will know how much production you need to take on.

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The demand analysis was actually a very fun procedure and we all realized that everything was cool and people wanted certain things.

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Our company will typically perform a demand analysis when launching new products to identify optimal pricing relative to customer demand.

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