Question

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.

A) negative demandB) latent demandC) declining demandD) irregular demandE) nonexistent demand

Answer 1

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Step-by-step explanation:

Answer 2

Answer: Latent Demand

Explanation:

When consumers has a strong need for a product that is not yet available in a market, it is an example of Latent demand.

Latent demand is a strong desire for a product that a consumer doesn't really know exist or the consumer doesn't have the purchasing power to purchase.

In most cases business experts can analyse an existing market identify the Latent demands of the consumers, then present a product to meet those latent demands and make profit in the process.