Christian Leborg
Changes create new demand

Understanding market demand

Market demand to fulfil people’s needs is always present. People consistently need and want something.

What is market demand? Entrepreneurs are the first to recognise needs. To identify a need is the first evidence of a demand. Brand strategy is a competitive strategy to identify a demand. Business innovation is the process to meet that demand.

Why is there market demand? The public needs offerings and society has to have someone to satisfy the needs of the people. Entrepreneurs fill that role. People may have unfulfilled needs without knowing and thus comprise a future consumer demand in the market.

How to identify or create demand? It is not so much about predicting a future demand, but rather anticipating a future made possible by the effect of changes. You can recognise that market changes have already taken place through people’s actions.
“The real and effectual discipline which is exercised over a workman is that of his customers.” – Adam Smith, pioneer of political economy
When do founders use market demand? People constantly need and want something. It’s rare to find a completely fulfilled human being. The demand for entrepreneurship to fulfil people’s needs is always there. Entrepreneurs introduce new knowledge into the economy and create demand where it did not exist previously.

What drives the demand? The demand may feel like an obligation on entrepreneurs to know their personal brand. Customer needs are driven by you, the founder, who promote your company and focus on new business ideas.

Where does market demand originate? The main purpose for a startup is the founder’s sense of demand for a certain service, product or organisation. Users hints towards demand and entrepreneurs respond. In many cases entrepreneurs build demand by introducing new offers to the market.

Understanding customers’ behaviour and demands is one of the most elusive and exciting endeavours for founders. What customer demands are you satisfying? Please give us some examples in the comments beneath.

Christian Leborg

Christian Leborg

Christian Leborg is a visual communicator and branding consultant. He specialises in building brand strategies and brand identities. Christian has worked with several specializations within visual communication as well as teaching and being an author. Christian now works on his third stint as an entrepreneur.