SECONDHAND PRODUCT MARKET DEVELOPMENT AND ITS IMPACT ON TOTAL MARKET OF AN INDUSTRY, PERSPECTIVE –BANGLADESH

This paper has examined how a consumer of durable goods can replace new and latest products to maximize their satisfaction through selling old-age durable goods to a secondhand marketplace. On the other hand it also examined how middle and lower middle class people are able to purchase a costly product at different levels of price. In this way, through developing secondhand real and virtual market, one industry can increase aggregate demand in the economy. Therefore, people of lower purchasing power can purchase their expected durable goods. This study proposed the durable goods manufacturing to set up secondhand market place or encourage the manufactures and middleman like retailers to develop this type of marketplace, from where lower income people can purchase their product at lower price. This process will help the manufacturer of durable goods to increase their market growth rate. Thus, the existence of a secondhand market for durable goods can respect the price of used durables goods and encourage the durables goods replacement purchasing. As the value of the durable decrease along with older-age so, price should change based on older age of the goods in the secondhand market. The decreasing prices of durable goods enable the lower income group to increase their living standard. This new aspect of marketing can also maximize the GDP growth rate and total consumption of a country.