When trying to forecast demand for a new product, an ideal situation would be one where an existing product or a generic product could be used as a model.
What is demand forecasting?
Corresponds to the realization of a market estimate, which gives the organization greater subsidies for decision making, based on a future forecast model based on a previous period.
Therefore, demand forecasting helps an organization to identify market characteristics and its potential audience and relate them to demand for a period, increasing its ability to make the right decisions that will generate profitability.
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