MICROECONOMIC ANALYSIS OF DEMAND FOR CONSTRUCTION GOODS OF A TRADE ENTERPRISE IN THE REGIONAL MARKET
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.1, No. 54)Publication Date: 2021-10-31
Authors : Pylypenko Nadiia; Prykhodko Alina;
Page : 60-67
Keywords : trade enterprise; demand; market; sales volumes; price elasticity;
Abstract
The article provides a microeconomic analysis of the demand for construction products of a trading enterprise. in the regional market. Studying the behavior of real and potential consumers allows you to prepare for competition, have a clear idea of the main consumers, timely identify, retain and demonstrate competitive advantages in the external environment. For a successful business, a trading enterprise needs to know the specifics of demand for main products from its own assortment. It has been confirmed that consumption volumes are influenced not only by the price of goods, but also by non-price factors — the availability of substitute goods, consumer income, inflation expectations, seasonal fluctuations, and others. A close relationship between the income of the population and the volume of the building materials market has been proven. Only the correspondence between the structure of commodity circulation and the structure of demand ensures the successful sale of the goods of a commercial enterprise. It was revealed that the implementation of the law of demand in practice often indicates the existence of exceptions to it — the so-called Giffen's goods. In fact, only a few goods can be attributed to them in their essence — consumers are really willing to pay a higher price for more goods. The vast majority of other exceptions to the law of demand are only evidence of ignoring the action of factors that we either do not know about or ignore their influence. It has been proven that the seasonality of demand is one of the most important factors in the construction goods market. In real life, for a practical response, it is important for an entrepreneur to have sufficient digital analytical material to identify trends in the market and predict their future actions. The importance of taking into account the time period when analyzing the relationship between the volume of sales of goods and its price is demonstrated by the example of a private trade enterprise specializing in the sale of construction goods. It has been proven that in most cases the seasonality factor played a greater role in the sales volume than fluctuations in the price of goods.
Other Latest Articles
- PROSPECTS FOR DEVELOPMENT OF THE EXPORT POTENTIAL OF THE CROP IN UKRAINE
- IMPROVING THE ECONOMIC EFFICIENCY OF SHIPPING COMPANIES: ACCOUNTING ASPECT
- FEATURES OF ACCOUNTING IN THE CONDITIONS OF APPLICATION OF MODERN INFORMATION TECHNOLOGIES
- METHODICAL BASES OF ASSESSING THE POTENTIAL FOR INCREASING THE COMPETITIVENESS OF ENTERPRISES
- STRATEGIC CHARACTERISTICS OF PROJECT TEAM FORMATION
Last modified: 2022-01-12 19:17:53