Demand Analysis and Market Segmentation

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Questions and Answers

What is the first step in the study of demand?

Gathering information on total past demands

Identifying the consumers (correct)

Evaluating future demand projections

Forecasting future demands

Which characteristic is NOT considered in market segmentation?

Age

Place of manufacture (correct)

Income classification

Use of the product or services

What is a primary question addressed by the processes in the study of demand?

Who are the suppliers?

How is the product produced?

Is there a demand? (correct)

What are the market prices?

Which step involves analyzing historical data to make future predictions?

Evaluating past demand patterns Signup and view all the answers

What tool is effective in identifying the right consumers or users of a product?

Market segmentation Signup and view all the answers

What is the main focus of the study mentioned?

To identify potential demand for various products in the market Signup and view all the answers

Which age bracket has the largest population according to the data provided?

10-18 years old Signup and view all the answers

What method is suggested for gathering total demand information?

Engaging with existing product users Signup and view all the answers

Which of the following is NOT identified as a source of demand data?

University student bodies Signup and view all the answers

What constitutes the total past demand for poultry eggs?

Total production in Davao plus total consumption plus imported units Signup and view all the answers

How is the total past demand adjusted to avoid duplication of data?

By including total production in Davao and imported units sold in Davao Signup and view all the answers

How does the document classify the phase of gathering total demand information?

The most costly phase with plenty of drawbacks Signup and view all the answers

What question is NOT listed as part of the inquiries for studying demand?

What is the primary demographic of the target market? Signup and view all the answers

Using hypothetical data, what was the total past demand for poultry eggs calculated in Davao in 2014?

2,200,000 pcs Signup and view all the answers

What does the document suggest about the process of gathering demand data?

It cannot be discarded despite its challenges. Signup and view all the answers

If all poultry eggs produced in Davao were sold only in Davao, what was the past demand calculation?

Total production in Davao plus outside eggs sold in Davao only Signup and view all the answers

What role does the proponent of the study have in determining total demand?

To ensure accuracy in determining total demand Signup and view all the answers

Which age bracket has the smallest population according to the data provided?

46-54 years old Signup and view all the answers

What is one factor that does NOT contribute to total past demand?

Total consumption of eggs outside Davao Signup and view all the answers

Why is it important to accurately determine past demand?

To plan for future production without overestimation Signup and view all the answers

What does the total past demand for poultry eggs NOT include when avoiding duplication?

Eggs produced in Davao that are sold outside of Davao Signup and view all the answers

What is the first step in conducting a demand study?

Identify the consumer Signup and view all the answers

How should the study of supply approach the identification of competitors?

Include indirect competitors as well Signup and view all the answers

What is the last step when conducting a demand study?

Evaluate the projection of future demand Signup and view all the answers

Which of the following processes is NOT mentioned in the study of supply?

Identify market trends Signup and view all the answers

What type of data should be gathered after collecting information about competitors?

Historical supply data Signup and view all the answers

What should be included when gathering information about competitors?

The location of competitors Signup and view all the answers

What fundamental question does the study of supply aim to answer?

Are there existing suppliers of the proposed product or service? Signup and view all the answers

Which of the following is a key question to be addressed when studying competitors?

How long have they been in business? Signup and view all the answers

What type of data should be excluded when gathering consumption data for supply studies?

Historical supply data of similar products Signup and view all the answers

Which of the following agencies is NOT listed as a source for gathering supply data?

Department of Energy (DOE) Signup and view all the answers

In evaluating historical supply growth, which question is NOT included in the guide questions?

What is the maximum potential output of competitors? Signup and view all the answers

What is the first step in conducting a study of supply?

Identify competitors and their locations Signup and view all the answers

Which of the following statements is TRUE regarding forecasting future supply?

Historical supply data should be used in the forecasting process. Signup and view all the answers

Which question would NOT be relevant in evaluating the result of future forecasts?

What are the future pricing strategies of suppliers? Signup and view all the answers

What is a possible consequence of the non-availability of supply data?

Challenges in the study of supply Signup and view all the answers

What is the primary purpose of demand-supply analysis in market study?

To determine if there is a demand for products. Signup and view all the answers

Study Notes

Past Demand

Past demand is calculated by adding local production, total consumption, and imported units.
The study of demand seeks to identify consumers, gather information on total past demands, evaluate past demand patterns, forecast future demands, and evaluate future demand projections.
Duplication of data can occur if local production is entirely sold locally.

Future Demand

Future demand refers to the projected demand for a product, including local consumption, production, and imports.
The study of supply aims to determine if existing suppliers for the proposed product or service exist.

Market Segmentation

Market segmentation helps identify target consumers or users by classifying them based on characteristics such as type of consumer, income classification, use of the product or service, location, and age.

Gathering Demand Data

Data on total demand can be obtained from manufacturers, retailers, trade associations, government agencies (NSO, BOC, BSP, DOF, DTI, NEDA), universities, local government units, and potential users of the product.

Study of Supply

The study of supply seeks to identify suppliers, including direct and indirect competitors, and their influence on consumer behavior.
It involves gathering information on historical supply, analyzing supply growth patterns, forecasting future supply, and evaluating the projected future supply.

Demand-Supply Analysis

This analysis involves comparing demand and supply to determine if there is a sufficient demand for the proposed product or service.

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Description

This quiz explores the concepts of past and future demand, focusing on calculations and projections related to local production and consumption. It also covers market segmentation techniques for identifying target consumers. Understanding these elements is crucial for effective market analysis and demand forecasting.