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States the term Demand Estimation

States the term Demand Estimation.

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Business enterprise requires knowing the demand for its product. An existing unit should know current demand for its product in order to ignore over production and underproduction. The current demand must be identified for finding pricing and promotion policies so that this is capable to secure optimum sales or maximum profit. This information about the current demand for the product of firm is termed as demand estimation.

Demand Estimation is the process of determining current values of demand for different values of prices and other finding variables.

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