1 / 19

Latent Demand and Potential Industry Earnings (PIE)

Economics background students should have knowledge of latent demand and potential industry earnings. Such topics are mostly found in assignment papers. To have proper understandings and better grades, students can opt for top-notch macroeconomics homework help offered by academics at Tutor Help Desk.

TutorHelpDesk20
Download Presentation

Latent Demand and Potential Industry Earnings (PIE)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. LATENT DEMAND AND POTENTIAL INDUSTRY EARNINGS (PIE) www.tutorhelpdesk.com

  2. “ LATENT DEMAND LATENT DEMAND ” www.tutorhelpdesk.com

  3. Latent demand refers to consumers’ desire for a specific product/service that is present in a particular market but is yet to be fulfilled. Such situations can arise as a result of a number of reasons for instance the consumers have no information about the said product, the product is not accessible in the certain region, or its cost is rather high for most of the interested buyers. www.tutorhelpdesk.com

  4. Characteristics: ❑ Hidden Market Potential: This aspect suggests that there is a large volume of demand that can be termed as hidden or more specifically untapped demand. This perhaps, can be the biggest advantage that one can glean from this type of circumstance since it is often an untapped goldmine for the businesses that can find and take advantage of it. ❑ Future Growth Opportunity: when a company identifies and fulfills latent demand, it paves the way for new sources of revenue and market share. This entails a significant prospect for future business development to undertake its business ventures. ❑ Consumer Insight: Assessing what customers want and what they are getting/not getting can help understand consumer behavior, likes and preferences. This can help in deciding on what products to design and produce, what marketing strategies to use, and many more. www.tutorhelpdesk.com

  5. Identification Methods: ❑ Market Research: questionnaires may be used to determine what consumers want that they are missing out on. This direct feedback from potential customers produces valuable insights. Surveys, interviews, and focus group ❑ Trend Analysis: When it comes to identifying latent demand various factors need to be observed including changes and upcoming trends in the consumer behavior, advancements in technology, and transformations in the society. For instance, an increase in popularity of sustainable products can pave way to the emergence of eco-friendly products. ❑ Gap Analysis: This involves examining the existing products in the market and analyzing gap between the needs of customers and what they are getting. This space is where latent demand exists because consumers wish they had access to more of what is available. www.tutorhelpdesk.com

  6. “ POTENTIAL POTENTIAL INDUSTRY INDUSTRY EARNINGS (PIE) EARNINGS (PIE) ” www.tutorhelpdesk.com

  7. Potential Industry Earnings (PIE) is defined as the amount of revenue an industry could gain, if it full exploits the existing demand and latent demand. This is a reflection of the optimum earnings considering all the markets to be exploited. www.tutorhelpdesk.com

  8. Components: ❑ Current Market Earnings: This is the revenue that emerges with satisfying the current identifiable demand in the marketplace. It shows the revenue from products and services that have been in existence and stable to generate income from. ❑ Latent Demand Revenue: This is the added revenue that could be generated from satisfying the wants and needs of customers in the market that are currently unmet. This shows that by satisfying latent demand, firms can greatly add to its total level of sales. www.tutorhelpdesk.com

  9. Impact of latent demand on PIE: ❑ Revenue Growth: It is often beneficial to address latent demand as this can drive a considerable increase in revenues due to the introduction of new goods and services that are not currently available in the market. ❑ Market Expansion: Some of the ways that can assist a business grow its market share and customer base include venturing into new markets and developing new products for the unsaturated markets. ❑ Competitive Advantage: Businesses which are able to locate and fulfill latent demand are likely to receive more business than their competitors owing to their perceived creativity and attentiveness to the needs of the public. www.tutorhelpdesk.com

  10. Strategies to Capture PIE: ❑ Innovation: This can involve capturing latent demand through the creation of new, unique products or services. Innovation in terms of enhancement of the existing product to meet the consumer needs to a greater extent. ❑ Marketing: Rogorous marketing strategies can be adopted to educate consumers about the improved features of products to meet their needs. ❑ Distribution: Making sure that the right products are available in the right location and at the right time is always important. This may require the improving distribution network and logistics. ❑ Pricing: When it comes to pricing models, the competitive and value-based pricing strategies can play a vital role in targeting price-concious segments of the market and turning latent demand into actual demand. www.tutorhelpdesk.com

  11. “ ” LOOKING FOR MACROECONOMICS LOOKING FOR MACROECONOMICS ASSIGNMENT HELP IN TOPICS LIKE ASSIGNMENT HELP IN TOPICS LIKE LATENT DEMAND AND PIE? LATENT DEMAND AND PIE? www.tutorhelpdesk.com

  12. Do you macroeconomics assignments? It doesn’t matter if you are stuck with theories, analysis, or even the economic model, we’ve got you covered. Our specific macroeconomics assignment help is crafted to enable you acquire the best grades inyour course. always find it difficult to solve your www.tutorhelpdesk.com

  13. “ Why Choose Our Why Choose Our Macroeconomics Macroeconomics Assignment Help Service? Assignment Help Service? ” www.tutorhelpdesk.com

  14. 1. Expert Assistance: Our team is made up of competent economists and academic personnel with ample knowledge in macro economics theory and practice. They can help in preparing solutions that can be very perceptive and precise in addressing your assignments. 2.Customized Solutions: We know that every paper differs in terms of the required level of writing, topic, or other specifications. Our specialists provide their aid according to your needs so that your paper is exclusive, proofread, and corresponds to your academic standard. 3.Comprehensive Coverage: From Keynesian economics, fiscal policies, monetary theories to international trade, we offer macroeconomics in our service. comprehensive coverage of www.tutorhelpdesk.com

  15. 4. Timely Delivery: We respect your deadlines. This helps you get your assignments completed on time so that you can review the work and even make changes before submitting the work. 5.High-Quality Work: Quality is our greatest treasure. Our specialists work according to the highest academic standards and requirements to create well- organized papers that are logically connected and contain no space mistakes 6.Plagiarism-Free Content: Originality is key. Our writers meet your instructions to give you original work that can be supported by research without instances of plagiarism. www.tutorhelpdesk.com

  16. 7. Affordable Pricing: We price our services to be affordable so that students are able to access our services easily. 8. 24/7 Support: We also have a dedicated customer support that can be accessed at any time of the day in case of any issues. We are always available for you in case you need our assistance. 9. Confidentiality Guaranteed: We respect your privacy and ensure your personal information is kept safe from outside interference. We make sure that all your personal details as well as the details of your assignments are protected. www.tutorhelpdesk.com

  17. “ ” Conclusion Conclusion www.tutorhelpdesk.com

  18. The concept of latent demand provides a great potential to increase revenue and market share for industries through making enhancements in its products or services or developing new products to meet the demands of customer. Any company that has the ability to discover and fullfill these unmet needs is sure to benefit. www.tutorhelpdesk.com

  19. THANK YOU www.tutorhelpdesk.com hw@tutorhelpdesk.com +1-617-807-0926

More Related