DEMAND PULLING FACTORS

INTRODUCTION There are alot of factors that pull or Increase the level and rate of demand for goods produce and services rendered. This can be both government or individual base i.e it's can either be Prompt by government or individual. Source Demand pulling factors are the various factors that motive or bring about demand. It is clear that demand is prompt by peoples needs and desire to have, own or possess a thing. There is certainly factors that determine the demand for a product which every business, company, marketers, firm e.t.c most out into consideration before going into production, this is to avoid losess and weateage. Factors includes; Price This price of a product is the major determinate of demand. The demand for a product is practically base on the price tag on such product. The law of demand state that as the price of a product increases the demand people place on such goods goes down and has the price come down the demand increases verse versa. Consumers Income Source This has to do with daily, weekly, Month earning of the consumer. If there is little or no income then it's lead's to little, low or no demand. Government policy The government is a legal body that has power to stipulate rules is can possibly affect rate of demand. The policy of the government can affect the level and rate of demand for a product. Population The population of a particular community must be put into consideration for it is the determinate of demand. The situation where there is small, low population is a in community there is certainly little or low demand. E.g villages Climatic policy Climatic policy has to do with the whether of a particular place has it derive Demand for a product. E.g There is high rate of demand for balloon during Christmas and celebration period, high demand for shelter during raining seasons, very high demand for fan during heat period e.t.c Price of related commodity The price tag of related commodity or product is a determine factor of demand. If the related goods or services i.e product or service that can substitute a product if it has a little price to obtain people terms to make high demand for the alternative. Demand is motivated and derive by want, needs and desires. Thank you for reading through.... Happy Weekend from @jesusboy @mandate @jesusbaby
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