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The Demand & Supply Phenomenon In The Market

by Sunanda K. Chavan on Thursday 20 January 2011, 5:14 PM | Category: Marketing| View: 637 views
 
 
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The Demand & Supply Phenomenon In The Market  

 


Way in which the forces of demand and supply allocate resources through a system of markets. Customers send signals to producers through their spending. Producers who fail to supply goods which customers want to buy will be forced to produce more successful lines or go out of business. In a free enterprise economy, most resources are allocated via the market mechanism.

With the drastic increase of cafes that have sprung up within last few years have also increased a necessity for brand identification in the crowd of so many businesses. For this, there are loads of promotional activities evolved so far as well. One of the biggest growing trends is cafe logo design.

Brand identity is not created overnight; there is a lot of hard work behind it. The thing which matters most is to get a piece of work that reflects professionalism, uniqueness and distinctness etc. This small graphical representation is a multi-purpose phenomenon which will speak volumes about your business to the viewers.

There are many café logos which are on the top while some of them failed. There could be many possible factors behind the failure of these logos. One such factor could be the lack of market research about the target audience.

Most of the time, coffee shop owners don't know for which type of audience they should design their coffee shop identity. This is why; most of them face failure.

Basically, you have to evoke the need in your target audience to visit your coffee shop which can only be done after a thorough study of your target audience. Once you know what kind of people you want to attract towards your coffee house, you will be able to craft the basic concept of your business identity.

To make it more clearer, the corporate identity for a coffee shop that is in a sophisticated downtown market area would be extremely different from a coffee shop located in suburban shopping mall. Understanding the demographics is the utmost requirement for designing targeted corporate identity.

For this, you will have to perform an informal market analysis...

• What is your target audience? Sketch which age group would come to your coffee shop, for example; if the shop is located near university or college then your target audience would be the students.

• Where are they located? It will be easier for you to determine the location, for example; if your targeted market is from every age group then you might prefer to launch a coffee shop in a shopping mall.

• What is their thinking about your coffee shop? Market survey would be a great idea to find out what they think about your brand.

• Now, ask yourself what are the things which you want them to know? This will help a lot to make graphic designer understand the requirements.

• Is there any competitor?

The anteceding questions are not mandatory for crafting a market analysis chart; they can be changed in accordance with the nature and theme of your business. All I wanted to tell was how important a target audience can be while designing cafe logo. So, next time when you consult a graphic designer, be sure that you know who your target audience is and how can you attract them through your coffee ship identity.

 

the essence of the marketing concept shifted from the shareholder concept to the stakeholder concept in which the central role of the customer, buyer or consumer was emphasized. In the economic systems of the of the 21st century, most businesses, including those in the public sector, use profit as the measure of their success. For those in the private sector, profit is truly essential for long-term survival. Profit only comes from sufficient revenue at a sufficient margin over costs. Ultimately, profit cannot be generated and sustained without the support from customers. It became obvious again that the whole future success and even continuation of the business depends on offering customers what they want at prices they will pay. This is one of the most important reasons why the marketing concept be so vital again to a business since the 1980s. Soon the argument of 'profitability' also infiltrated the services in the public sector. It began to be recognized that public services cannot be sustained unless the investment in them produces worthwhile returns. Despite the difficulty in defining "returns" in the public sector. the profitability arguments in the public sector was soon firmly established. The public services institutions that came under heavy fire by unsatisfied citizens had to change their strategies imitating the institutions in the private sector. Consequently, privatization became an important instrument for the implementation of these new strategies. The quality of public services have improved.

 

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