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Q: What are the objectives of product forecasting?
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What are the objectives of business forecasting?

The very objective of business forecasting is to be accurate as possible, so that planning of resources can be done in a very economical manner and therefore, propagate optimum utilization of resources. Business forecasting helps in establishing relationship among many variables, which go into manufacturing of the product. Each forecast situation must be analyzed independently along with forecasting method.


The forecasting time horizon and the forecasting techniques used tend to vary over the life cycle of a product true or false?

Yes, they do tend to vary over the life cycle of a product.


Objectives of marketing depart?

The objectives of a marketing department are to brand a product and generate revenue by offering the product to consumers.


How do demand forecasting method for new products vary from those for established product?

The demand forecasting method goes by the phrase "supply and demand" as the forecasting method provides products both currently and popularly in demand. Meanwhile, established products work with the forecasting method as a means to remind everyone that there are products for those whom could not otherwise afford a product similar to the one currently in demand by the suppliers selling the product.


What are common objectives?

There are a number of promotional objectives, some of the most common being information dissemination, product demand, product differentiation, product highlights, and sales stabilization.


Distinguish between demand estimation and demand forecasting?

Demand estimation's purpose is to determine the approximate level of demand for the product whereas demand forecasting's purpose is to estimate the quantity of product or service that consumers will purchase.


New product development objectives?

New product development objectives for a new product would include: * Schedule of release * Safety and testing guidelines * List of features * Features for future release * Upgrade path * Financial and Budgetary objectives New product development objectives for an existing product would include: * Making the product better or safer * Making the product cheaper for the end-user * Making the product easier to sell * Upgrading the product to be state-of the-art * Adding more features to the product


What are common promotional objectives?

There are a number of promotional objectives, some of the most common being information dissemination, product demand, product differentiation, product highlights, and sales stabilization.


Discuss the ATAR model for a new product forecasting with the help of suitable example?

No, but can you.


What are objectives of wholesalers?

the objectives of a wholesaler is to sell a large amount of any product to the end buyer.


What is the need for demand forecasting?

The need for demand forecasting is to help companies see the future of products they are launching. They can see what the future will hold for certain product and what the pricing should be.


How Do demand forecasting method for new products vary from those for established products?

The demand forecasting method goes by the phrase "supply and demand" as the forecasting method provides products both currently and popularly in demand. Meanwhile, established products work with the forecasting method as a means to remind everyone that there are products for those whom could not otherwise afford a product similar to the one currently in demand by the suppliers selling the product.