Consider the following while analyzing the product.
- People’s taste for a particular product or service.
- People’s income
- The availability of complements which are other products that need to be used with the primary product. Gasoline, for example, is a complement to an automobile.
- The availability of substitutes for the product.
- Price expectations. There will be less demand if people expect a price to fall. More demand will exist if people expect prices to rise.
These demand determinants need to be considered along with some of the following:
- What product features would appeal to people in this country/culture?
- Are there supply chain issues?
- Are key resources available and competitively priced?
Please use the IBIS world data base from the below login information while analyzing the product.