Demand is want for specific product backed by purchasing power and willingness to spend. A market is the set of all actual and potential customers of a product with demand. Demand analysis is the basis of most marketing decisions. Market can be:a) Potential Market: It is size of market with set of customers having sufficient level of interest in a product. They have prospect of buying the product. Marketing can stimulate demand in potential market.
b) Available Market: It is size of market with set of customers who have interest, income and access to a product. It represents demand for a product in all segments of the market.
c)Target Market (Served Market): It is size or segments of the available market selected to be pursued. It represents demand for a product in chosen segments of the market. It is served by the company.
d) Penetrated Market: It is set of customers who are actually buying a product. It is size of market reached by the target market.
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