Here Are The Types Of Demand For A Product In The Global Market

kelolalaut.com Demand for goods in the global market can be categorized based on various factors, such as the nature of demand, its intended use, and the market segments it serves. Below are the types of demand in the global market:

1. Demand Based on Consumption Nature

• Demand for Consumer Goods
  Goods that are directly used by end consumers, such as food, clothing, and electronics.
• Demand for Industrial Goods
  Goods used as raw materials or inputs in the production process, such as chemicals, metals, and machinery.

2. Demand Based on Elasticity

• Elastic Demand
  Demand for goods that is sensitive to price changes, such as luxury items and entertainment.
• Inelastic Demand
  Demand for goods that is less sensitive to price changes, such as basic necessities (rice, sugar, oil).

3. Demand Based on the Nature of Goods

• Primary Goods
  Essential goods that fulfill basic needs, such as food, water, and fuel.
• Secondary Goods
  Goods that improve quality of life but are not essential, such as electronic devices and furniture.
• Tertiary Goods
  Luxury goods that are usually expensive, such as jewelry, sports cars, and internationally branded items.

4. Demand Based on Geographic Region

• Regional Demand
  Demand that is limited to a particular region, for example, local products that are popular in certain areas.
• Global Demand
  Broad demand that spans across various countries, such as crude oil, technology, or global fashion.

5. Demand Based on Time

• Seasonal Demand
  Demand that peaks at specific times, such as winter clothing or Christmas decorations.
• Sustained Demand
  Demand that remains stable throughout the year, such as basic necessities and communication tools.

6. Demand Based on Market Segmentation

• Demand from End Consumers
  Goods purchased directly by consumers for personal use.
• Demand from Companies or Businesses
  Goods purchased by companies for resale or use in production.

7. Demand Based on Economic Resources

• Demand in Developed Countries
  Tends to focus on high-tech goods, branded products, and services.
• Demand in Developing Countries
  Mainly includes basic necessities, low-cost goods, and raw materials.

8. Demand Based on Social and Cultural Factors

• Local Demand with Cultural Specificity
  For example, halal food in the Middle East or organic products in Europe.
• Global Demand with Universal Relevance
  Products relevant across various cultures, such as smartphones or vehicles.

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