Market demand is the total quantity of a product or service consumers are willing to buy at a certain price in a specific market, critical for business planning.
Understanding market demand not only confirms audience existence but also guides pricing, marketing, and stock decisions.
Neglecting market demand in product development can lead to excess stock, profit loss, or unmet customer needs.
Balancing supply to meet demand prevents costly out-of-stock situations while ensuring efficient warehouse utilization.
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