--%>

Illustrates the factors affecting Demand Forecasting

Illustrates the factors affecting Demand Forecasting?

E

Expert

Verified

The given are the significant factors governing demand forecasting as follows:

1. Prevailing Business circumstances (per capita income, price level change and consumption pattern, employment and saving, investments).

2. Condition in the Industry (as Price product competition policy of firms in the industry).

3. Condition in the firm. (Like Plant capacity, significant policies of the firm and quality).

4. Factors influencing Export trade (as EXIM control, terms of export, EXIM policy and export finance)

5. Market behaviour

6. Sociological circumstances (as Population details, family lifecycle, age group, family income, education and social awareness.)

7.  Psychological circumstances (habit, taste, attitude, culture, perception and religion)

8. Competitive circumstance (as competitive condition in the industry).

   Related Questions in Managerial Economics

  • Q : Backward Bending Labor Supplies The

    The graph for the supply of labor might be backward bending since: (w) the substitution effect surpasses the income effect at specific wages. (x) overtime workers receive pay for time and a half. (y) the substitution effect. (z) the income effect is m

  • Q : What are the types of price

    What are the types of price discrimination?

  • Q : Advantages and disadvantages of Trend

    What are the advantages and disadvantages of trend projection method?

  • Q : General Training in Human Capital The

    The knowledge regarding local shrubs and trees which Morgan learns whereas working as an apprentice landscaper into the suburbs of a huge city is an illustration of the benefits from: (1) dirty work. (2) general training. (3) dues-paying. (4) high-skilled employment.

  • Q : Value of the Marginal Product The value

    The value of marginal product of a variable resource is marginal physical product of it multiplied with: (w) the marginal revenue from the sale of its addition to output. (x) its cost. (y) the price of the product. (z) one.

  • Q : Definition of Managerial economics

    Describes the definition of Managerial economics according to Douglas?

  • Q : Explain the objectives of pricing

    Explain the objectives of pricing policy and its aim.

  • Q : Marginal revenue product and marginal

    When the marginal revenue product of the last worker hired through a large firm is fewer than its marginal resource cost, in that case the firm: (i) increases profits if this lies off a few workers. (ii) operates in a region of decrea

  • Q : Substitution Effect within Supply of

    When wage rates rise above $25 per hour in this figure given below, in that case the: (1) worker works more diligently to ensure that she keeps her job. (2) employer pays an excessively high efficiency wage. (3) income effect exceeds the substitution

  • Q : Differentiate between individual and

    Differentiate between individual demand schedule and Market demand schedule in law of demand?