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product forecasting

Posted in on Mar 3rd, 2014 | 0 comments

To reduce the risks associated with new products, the forecasting of year-one sales has become an established practice within the marketing research industry.

Product forecasting is the science of predicting the degree of success a new product will enjoy in the marketplace. To do this, the forecasting model must take into account such things as product awareness, distribution, price, fulfilling unmet needs and competitive alternatives.