The phenomenon of demand: how to become a visionary of consumer desires?

“Five or six years ago, leading business thinkers surveyed by our company noticed an increase in instability and predicted a crisis,” says Adrian Slivotsky, who is also a member of the advisory board of Lviv Business School (LvBS). The same thing is happening now, he is sure, emphasizing that this development of events fits perfectly into the theory of the 7-year cycle of recessions.

Falling demand, reduced orders and a shortage of financing – these are the classic satellite factors of any crisis. However, Mr. Slivotsky is sure that everything is not so sad.

“After studying the results of the work of companies from different industries from different regions of the world during the crisis, we found that almost everywhere there are 1-2 companies that, despite everything, show 15-20% growth,” says Adrian Slyvotsky.

How to create demand?

Studies have shown that all of these companies, in one way or another, adhere to 5 rules that help them create demand for their products.

1. Successful companies create a picture of consumer problems. And the task of business, above all, is to solve them, and not to satisfy their own ambitions.

Every day we answer this question, explaining the essence of the events in the evening newsletter UBR

2. Creating a magnetic product / service. Between them and the consumer should be an emotional connection, and not just the satisfaction of their needs.

3. The presence of background or support, which would give the product complexity. Apple, for example, has thousands of people writing apps for iOS.

4. Impulse to purchase. One of the manufacturers of coffee machines noticed that the sellers who offer a potential client to try the coffee prepared with the help of the machine, the level of sales is 6 times more than the rest.

5. Adjustment to the improvement trajectory. No one knows the shortcomings of the product / service better than their creators. Therefore, instead of resting on its laurels after the release of the product, successful companies immediately begin to work on improving it.

How to create a successful family business

According to Adrian Slyvytsky, following these 5 rules will allow companies to find their consumers even in a crisis.