What are some strategies that can companies adopt to influence demand? Try using some concepts of...

What are some strategies that can companies adopt to influence demand? Try using some concepts of Materials Management to answer this question.

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Expert Solution

Ans- The strategies companies adopt to influence demand are mentioned below:-

1) By doing the right process- Create an integrated business plan that is a cross-company activity and drives the rest of the business forward for profitably meeting customer demand.

2) Training should be done after education- This is Because the demand planning process is cross-functional, many people input to the forecast without realizing the importance of their contributions. As a result, the quality of their contributions may suffer.

3)Feature customers' reviews- On your website, product pages and elsewhere, you should be featuring customer reviews. Customers are going to trust testimonials from their fellow shoppers.

4)Produce stellar content. If you're just starting out, your business should promote its new product and prove that it's solving a problem currently plaguing consumers through informative and educational content.

5)Pay attention to market research-Your company should aim to figure out what customers need and want through surveys, test groups and feedback on social media and reviews left on your website.

Rahul Sunny answered 1 year ago

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