In this days, a company that can't keep up to the demand from customers will be left behind. Of course, the impact can go to a chain reaction. From lesser income, more debt problem, until eventually, the company went bankrupt. This is because of one thing, the market. When supply was made, demand will follow and vice-versa.
Why the market is important for all of us? Let's talk about it further.
Every product got supply and demand on the market
When a company creates a product, it immediately creates a market. At first, the demand may be small due to a new product that people still don't know what it looks like. This way, the company try to advertise it in a unique way so people can start buying it. When the existence becomes large, the company can start cutting the expense on advertising and divert it into expanding the company further.
When demand rises, the price also rises but when supply rises, the price goes down. It is a natural cause of supply and demand law where both of them need to balance every time.
Every strategy was made for a long-term
A company that lasts long like Coca-Cola Company, Exxon, Pepsi, Microsoft, and other that lasts more than at least forty years each share one trait. They try to keep the market fill with their products and speed is the essence. If the market from that company is empty, customers will move to other companies product. If that happens, the company that makes it empty must correct themselves to do so.
Technology advancement is one of the things that a company must expect. Small or large numbers don't matter as long as the market remains fulfilled and customers happy. While the supply keeps replenished every day, quality has also become attention. When a company cannot maintain the quality, people will start switching to other product that has more quality. That's why every company must have a quality control to make sure there are no mistakes or flaw made. The example case was found at Nestle where they don't have a quality control. As a result, the Counterfeit product was born and Nestle took a toll from it.
Since then, quality control becomes mandatory from each company when a product is about to release to the public.