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In: Economics

As a buyer, you must constantly make forecasts about consumer demand. What factors would cause the...

As a buyer, you must constantly make forecasts about consumer demand. What factors would cause the sale of men’s ties, e-cigarettes, disposable diapers, and US flags to increase or decrease?

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Expert Solution

There has been so much change happened in the demand of the consumers. Buyer, has to forecasts the demand of the consumers constantly because the trend is changing and also because the rising up of new products. Trend may be rise or fall day by day. Buyers have a wide variety of options in front of them. Sales happens on the basis of the customer preferences. A marketer has to identify the taste and prefernces of the buyers, then they have to segment the market, that means the group of buyers according to different factors such as geographical factors, biological, age, taste and preferences, traits etc. Market research helps the marketer to put relevant strategies to bring his product in the market. If comes to buyer's view, he has to continously have a touch with the moving trends. That means the accessibility to the market. Give responses to the marketers due the follow up done. Its a kind of after sales service.

A buyer is not same as the consumer in some point of time. A buyer may not be consume the product. A consumer is a person who use a service or a product for personal purpose at his desire. Buyer constantly makes the predictions, estimations and the forecasts about the consumer demands. Here gives the examples of the men’s ties, e-cigarettes, disposable diapers, and US flag. The factors which cause the sale of these products have to be analysed. It may increase or decrease.

The consumers of the Men's tie mainly include bankers, students (in uniforms), media, professionals, restaurant staffs etc. The necties normally projects the confidence, professionalism, an authoritarian look, neat and tidy look etc. Some of the clubs, regiments schools use some pattern type ties which bring the uniformity. Then the changes happens on their manufacturing processes also according to the changes in the preferences. The consumers demand changes on different occasions. Most of the neckwear manufacturers focus on the variations in the products which bring the innovations. It means the terms of the colours, designs, materials used, some of the patterns etc. Then many organizations across the globe opted for the casual dressing styles in the offices as a part of bringing employee friendly environment. It obstructs the trend of the ties and it hampers the neckwear market growth. Trends have fallen because of some factors like in factories having heavy machineries it was avoided due to the safety concerns, in hospitals, they banned using the ties for the staffs due to th hosptital borne infections. Neckties held largest market share in 2018. It witnessed quickest growth over the forecast period.

E-cigarettes are some devices which are battery powered and work by heating a liquid into aerosol. The consumer can exhale and inhale by taking aerosol into his lungs. It have been in use since 2000s. Normally the users be the young people. In that, most of them are the males. They considered that the products are normally cool and safer than the tobacco cigarettes. Some of the factors for the sale of the e-cigarettes are gender, age, history of the smoking, alcoholic consumption, financial pressure, etc.

Diapers wants has been since the beginning. Today there are different options in the market. One of the technological innovation used in this area caused the introduction of the disposable diapers. These are a popular choice by the consumers because of its convenience, absorption capacity, it carries more liquid than an ordinary cloth diapers, rashes can be reduced, constant diaper change may not be happened due to the use of the disposable diaper. It need not be reused. Most of mothers nowadays are working women as they are going through a busy life, so that they searched for the relaxed products due to the baby sitting and housewives also used these products due the caring of baby, due to travelling, Its availability is a factor to use it. All these factors affects the sales of these product.

Factors affecting the use of flags are the behaviour of the people, patriotism, For example, for many flag companies, during 2001, sales soared terrorist attacks. People stood in line to purchase the flag and company worked night and day in order to meet the demand. Election time is a peak time. It is regardless of the party affiliation and it reflects the patriotism. In the flag business market, different changes and challenges are happened day by day.


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