When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.
A) negative demand
B) latent demand
C) declining demand
D) irregular demand
E) nonexistent demand

Question

Quizplus · Accepted Answer

Latent demand refers to a situation where consumers have a strong need or want but no product exists to meet that need. The demand is not visible in the market because there is no corresponding product available to satisfy it. Marketers can tap into latent demand by creating innovative products that address these unfulfilled needs.

When Consumers Share a Strong Need That Cannot Be Satisfied