Latent demand

Latent demand,

Definition of Latent demand:

  1. Desire or preference which a consumer is unable to satisfy due to lack of information about the products availability, or lack of money. One of the major objectives of marketing is to either influence the potential buyer to allocate his or her available money differently (in favor of the marketers product) or to create purchasing power through means such as deferred billing or hire purchase arrangements.

Meaning of Latent demand & Latent demand Definition