Multifaceted Determinants of Market Demand Fluctuations: An Integrative Analysis of Customer Knowledge Deficiencies, Quality Discrepancies, Economic Volatility, and Strategic Human Resource Management Practices

Description

Page: 616-620

Phathutshedzo David Lavhelani¹, Reginald Mulalo Ndwamai², Mootli Angel Thupi³, Khathutshelo Khashane¹⁴
(Department of Applied Management, University of South Africa, South Africa¹, Department of Human Resource Management and Labour Relations, University of Venda, Thohoyandou, South Africa^2,4, and Department of Commerce, IIE Rosebank College, South Africa³)

Market demand is in a state of constant change, shaped by various factors including consumer awareness, product quality, economic conditions, and workforce productivity. Companies that do not adjust to these dynamics face the risk of instability and diminished profitability. Although previous research has examined the variations in market demand, there has been limited focus on how gaps in customer knowledge, inconsistencies in product quality, economic volatility, and human resource management (HRM) collectively influence consumer purchasing behaviour. Many consumers encounter difficulties with ordering systems, and variations in quality, along with inefficiencies in the workforce, further exacerbate unpredictable demand trends. These obstacles complicate businesses’ efforts to forecast demand accurately and maintain stability in the market. This study aims to explore the relationship of these factors and their impact on demand and overall business sustainability. It aligns with Sustainable Development Goal (SDG): Decent Work and Economic Growth, underscoring the importance of developing a skilled workforce to promote economic resilience and sustained market stability. Employing a qualitative methods approach gave the study insightful data regarding the problem under investigation. Participants from diverse professional backgrounds contribute to a holistic understanding of the challenges related to demand. The results reveal that inadequate customer knowledge, variations in product quality, and inefficiencies in HRM are significant contributors to demand fluctuations.