Explain the forecasting demand for a new product
Explain the forecasting demand for a new product.
Expert
Joel Dean has recommended six approaches for forecasting the demand for new products.
1. Evolutionary Approach: Under this method, for new product is estimated the demand on the basis of existing product. For example: Demand forecasting of colour Television upon the basis of demand for black and white Television.
2. Substitute Approach: For the new product the demand is analyzed like substitute for the existing product.
3. Growth curve Approach: On the origin of the development of an established product, for the new product the demand is estimated.
4. Opinion Polling Approach: Under this approach, for the new product demand is estimated through inquiring directly by the consumers using sample survey.
5. Sales Experience Approach: This demand is estimated through supplying the new product in a sample market and analyzing the instant response on that product within the market.
6. Vicarious Approach: Consumers reactions upon the new products are determined indirectly with the assist of specialized dealers.
Illustrates the differences between Sunk Cost and Incremental cost?
Suppose that the auto market started at the intersection of D0S0, and in that case automakers opened foreign assembly plants after discovering which competent foreign employees worked for minor wages. How would it influence the auto market?: (
Labor supplies for the economy as an entire are LEAST determined through: (w) labor unions. (x) wage rates and structures of wages. (y) education and training of the work force. (z) labor force participation rates. Hey friends plea
Along two supply curves which are straight lines by the origin, the price elasticity of supply as: (w) is below 1 for all prices and quantities upon both curves. (x) is less for a given quantity beside the steeper curve. (y) equals on
The individual firm in a purely competitive labor market: (1) faces a perfectly elastic supply of labor at the equilibrium wage. (2) faces a perfectly inelastic supply of labor at the equilibrium wage. (3) has a perfectly elastic demand for labor at t
If a perfectly competitive firm determines that its market price is below its minimum average variable cost, this will sell: w) the output where marginal revenue equivalents marginal cost. x) any positive output the entrepreneur decid
After vacationing hundreds of restaurants, then a restaurant critic has concluded which in almost all the workers who clear tables and also wash dishes appear to be illegal aliens by Mexico. The critic has observed a phenomenon termed as: (1) marginalized labor. (2) t
What are the difference between average cost and total fixed cost?
Boris operates a local landscaping company, needs each potential employee to lift a 200 pound tree before being hired whole-time. This obligation is an example of: (1) signaling. (2) discrimination. (3) screening. (4) derived demand. (5) automation. Q : Illustrates the term Dumping Illustrates the term Dumping?
Illustrates the term Dumping?
18,76,764
1936538 Asked
3,689
Active Tutors
1451996
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!