What is Latent Demand in Marketing?

Learn Latent Demand definition in marketing with explanation to study “What is Latent Demand”. Study latent demand explanation with marketing terms to review marketing course for online MBA programs.

Latent Demand Definition

  • Consumers may share a strong need that cannot be satisfied by an existing product.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong



Latent Demand Explanation

Idle interest is essentially the craving for an item that a shopper can't fulfill on the grounds that he is himself unfit to call attention to out or doesn't understand what is missing until pointed out. This need can't be fulfilled by current item or administrations and the shopper himself can't expressive the sort of item which will support him. Distinguishing proof of holes in the current market frequently encourages advertisers to find dormant requests. Be that as it may, support of the end purchaser (as center gathering discourses or inside and out meetings) is important to effectively get to the need. One of the employments of advertisers is to make sense of the dormant interest of shoppers and make items that fulfill the equivalent. The advertising assignment includes estimating the potential market (by surveying the size of the populace which feels a similar need) and build up an appropriate item. On the other hand, he can likewise present the extra highlights in the current item.

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