Shift in demand
Required displacement (or shift in demand ; English demand shift ) is in the economics a change in the demand for certain goods or services , but not for changing the overall demand leads. The opposite is the shift in supply .
General
Shifts in demand can lead to an increase or decrease in demand. They are due to changed consumer behavior or changed investment demand. Shifts in demand can affect an individual company or entire sectors of the economy . The entire economy can also be affected if the shift in demand leads to imports or results from exports . It is the task of the customer service and marketing of the company to recognize such shifts in demand at an early stage and to counteract them through adaptation .
causes
The causes of shifts in demand can in particular be income , fashion changes , price changes , new substitute goods , technical progress or advertising . For example, if the income of private households increases , they can acquire goods that are subject to a high-price strategy . If the fashion changes, for example because fur is hardly in demand for animal welfare reasons, the demand shifts to other substitute clothing. Hermann Heinrich Gossen cited the powder manufacturers and wig makers as the first example of the emergence of unemployment in 1854, when powdering and wig wearing went out of fashion after the French Revolution (1789). An increase in the price of butter may drive demand to margarine . Technological progress has led to the fact that the demand for records nearly dried up and instead the compact disc rose. Behind Werner Sombart concept of "Surrogierung", the production of hides substitution goods for expensive luxury goods in the form of imitation products through cheap goods . There was a shift in demand at the expense of the luxury goods industry and in favor of the cheap goods industry.
Finally, shifts in demand can lead to a partial shift of domestic demand abroad, which results in imports. The main cause can be cost advantages abroad.
species
A general distinction must be made between a quantitative and a qualitative shift in demand . The former relates to the sales volume , the latter to the product quality / service quality in demand . A qualitative shift in demand is often accompanied or followed by quantitative changes in demand, because changed quality requirements also have an impact on demand.
economic aspects
“Dynamic markets” are characterized by technical progress on the supplier side and shifts in demand on the demand side. A shift in demand affects the demand function . This shifts to the right when the number of private households increases, the price of factors of production or substitute goods increases, the price of complementary goods decreases, the income of private households increases or the preferences in favor of goods / services change. In the opposite case, the demand function shifts to the left.
A shift in demand changes the demand for a certain product or service in favor of other products / services. The market-induced shift in supply and demand of companies results from the opportunity principle , according to which rationally acting economic subjects (especially companies and private households) always strive to maximize the sum of the profits or their benefits from all their activities ( profit maximization , benefit maximization ) . Shifts in the needs of private households can also be the result of rational considerations of opportunity, especially in the case of everyday goods. In large areas such as luxury goods, however, they are more the result of irrational desires and not the result of measurable needs. In private households, the offer of a new, more attractive or cheaper good leads to a shift in demand at the expense of goods with a lower utility value . On the one hand, the product innovation should do justice to technical progress, but on the other hand it should also compensate for the shift in demand on the part of the customer.
Significant shifts in demand can have an impact on the labor market if workers have to be laid off in affected markets while there is a shortage of skilled workers in beneficiary markets . Because of their different qualifications , the workforce cannot easily change, leading to structural unemployment . This structural change is caused by shifts in demand in the country itself.
See also
Individual evidence
- ^ Romy Scholz: Analysis of historical speculative bubbles in the equity and commodity sector. 2015, p. 17. (books.google.de)
- ↑ Heribert Meffert: Strategic corporate management and marketing. 1988, p. 159. (books.google.de)
- ↑ Hermann Heinrich Gossen: Development of the laws of human traffic, and the rules for human action flowing from it. 1854/1967, p. 157 ff.
- ↑ Werner Sombart: The modern capitalism. Volume III.2, 1927, p. 623 ff.
- ↑ Knut Bleicher (ed.): Organization as a system. 1972, p. 186. (books.google.de)
- ↑ Hans Ruedi Läng: Economic aspects of women's hat fashion. 1950, p. 125.
- ↑ Manfred Noé: Innovation 2.0: Business success through intelligent and efficient innovation. 2013, p. 1. (books.google.de)
- ^ Wolfgang Grundmann, Rudolf Rathner: banking, accounting and control, economics and social studies. 2018, p. 362 f. (books.google.de)
- ^ Timm Gudehus: Dynamic markets: Practice, strategies and benefits for economy and society. 2007, p. 234. (books.google.de)
- ^ Timm Gudehus: Dynamic markets: Practice, strategies and benefits for economy and society. 2007, p. 234.
- ^ Timm Gudehus: Dynamic markets: Practice, strategies and benefits for economy and society. 2007, p. 234.
- ↑ Manfred Noé: Innovation 2.0: Business success through intelligent and efficient innovation. 2013, p. 1.
- ↑ Hans Putnoki, Bodo Hilgers: Great economists and their theories: A chronological overview. 2013, p. 52. (books.google.de)