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English definition of “latent demand”

latent demand

noun [C or U]    
ECONOMICS, MARKETING demand for a product or service that a consumer cannot satisfy because they do not have enough money, because the product or service is not available, or because they do not know that it is available: New facilities were built just because the funds were there, rather than to fulfil any latent demand. A latent demand for smartphones saw sales climb as the recession eased.
(Definition of latent demand noun from the Cambridge Business English Dictionary © Cambridge University Press)
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