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Factors affecting growth of markets are:
1. The demand of different goods and services affects the growth of market..if ther e is a increase in demand of goods & services only then there will be an increase or expansion of market ..markets increase if there is a increasing demand for goods and services. to cope up with this increase the markets tend to grow.2. Introduction of new goods and services in market also helps in growing the market. 3. Also as the number of sellers or we can also say the companies producing goods or offering services increase ..there will be automatically an increase in markets or we can say growth in market.
Market growth is influenced by many factors such as
I hope these points are self explanatory.
I think identifying customers' needs is the key, then and based on this, producing more and expanding.
Market growth is affected by numerous factors. For example a law has been passed by the parliament to restrict the use of certain products. There could be a social reason, society may have abstaining from the products that may harm the morality. Religion may have described it confronting some religious values. Substitutes may have hampered the usage of the products. All these factors affect the market adversely.
Following Factors influence Market Growth :
1. Demand Supply Ratio
2. Introuction of New Product
3. Technology Upgradation
4. Special Discount Scheme
5. Better After Sales Service
6. Replacement of Old Product by New One.
7. Sale on EMI Scheme at 0% Interest
Demand influence the market growth;
if no demand, a demand has to be created!
Hi Shashikanta,
Good evening. In my opinion, the below mentioned factors affect on the market growth,
1. International trades, which impacts on the fuel cost. Since, it is the basic ingredient of any product. if it raise then your product cost will raise, since manufacturing cost increased, transportation cost increase. It consequently impact on less sales. Which coarse company to offer more discounts.
2.Household income, if previously there was one member in the family who was earning, but now there are four member in the family, then there will be more need of product, since buying power increased.
3.Taxes and duties, since government earn their income by levying taxes and duties on the product, if it increased which ultimately increase the cost of product and drop in the sales.
4.Demand and supply, the customer's needs play an important role, albeit there is potential market of buyer but for the product demand is less then that product's sales will dropped.
5.Market Competitors and market strength, since, competition opens doors for customer to be choosy which lead to offer discounts on product to allure customer. Also, sometimes strength of the market is too high and it can absorb all product very well.
6.Technology, last not least. Since, it is the one of the most important factor which can change every person's point of view. Since, people are always allure to those things which are new, which is current appetite of the new world.
I agree with Mr. Vinod Jetley good answer. Thank you.
I think need is basic thing to identify market and if there is not need then create the need to the customer and make it market and saw the USP of the same so it will create demand.
