DEAMAND FORCASTING
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This document discusses methods for forecasting demand, including consumer surveys, expert opinion methods, and market experiments. Consumer surveys directly collect information from users or potential consumers and can be interviews, complete enumerations, or samples. Expert opinion methods gather forecasts from experts within the firm or industry. Market experiments test demand through controlled experiments with consumers or test marketing in selected towns.
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09 vivekanand vaish (survey methods of demand forecasting)
This document summarizes several survey methods used for demand forecasting, including collective opinion method, Delphi method, consumers' interview method, and test marketing. It describes how each method works, provides examples, and discusses the advantages and disadvantages of each. Specifically, it explains that the collective opinion method involves consolidating estimates from salespeople, the Delphi method uses an iterative process with a panel of experts, and consumers' interview method can involve complete enumeration or sampling of consumers.
Demand forecasting.ppt
The document discusses demand forecasting, including its meaning, objectives in the short and long term, types including short, medium and long term forecasting, determinants for different goods, requirements for good forecasting, techniques like consumer surveys and opinion methods, and steps involved in the forecasting process. It provides details on objectives like arranging labor, finances and production, as well as factors that influence demand for different goods and methods for collecting information and opinions to forecast future demand.
Demand forecasting
Demand forecasting is used to estimate future demand for a product. There are two main approaches: survey methods that collect consumer information, and statistical methods that analyze past sales data. Survey methods include consumer surveys, expert opinions, and market experiments. Statistical methods include trend projection, analysis of economic indicators, and econometric modeling using regression analysis. Accurately forecasting demand is challenging due to uncertainties, but these techniques provide systematic ways to anticipate customer needs.
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This document contains a registration proforma for a dissertation on the promotional mix strategies of Big Bazaar retail chain. The proposed research topic is "A study on promotional mix strategies at Big Bazaar". The objectives are to study Big Bazaar's promotion mix strategy, measure the effectiveness of its sales promotion measures, and understand customer awareness. The scope involves studying customers of Big Bazaar and their awareness of Big Bazaar's advertisements. The methodology will use descriptive research through surveys and interviews. Data collection will involve a questionnaire and secondary sources. The study will have limitations due to sample size and response accuracy. The dissertation will include chapters on industry background, research design, company profile, data analysis and findings/recommendations.
Big bazar final synopsis
This document contains a registration proforma for a dissertation on the promotional mix strategies of Big Bazaar retail chain. The proposed research topic is "A study on promotional mix strategies at Big Bazaar". The objectives are to study Big Bazaar's promotion mix strategy, measure the effectiveness of its sales promotion measures, and understand customer awareness. The scope involves studying customers of Big Bazaar and their awareness of Big Bazaar's advertisements. The methodology will use descriptive research through surveys and interviews. Data collection will involve a questionnaire and secondary sources. The study aims to analyze Big Bazaar's promotional strategies and customer response.
Big bazar final synopsis
This document contains a registration proforma for a dissertation on the promotional mix strategies of Big Bazaar retail chain. The proposed research topic is "A study on promotional mix strategies at Big Bazaar". The objectives are to study Big Bazaar's promotion mix strategy, measure the effectiveness of its sales promotion measures, and understand customer awareness. The scope involves studying customers of Big Bazaar and their awareness of Big Bazaar's advertisements. The methodology will use descriptive research through surveys and interviews. Data collection will involve a questionnaire and secondary sources. The study will have limitations due to sample size and time constraints. The dissertation will include chapters on industry background, research design, company profile, data analysis and findings/recommendations.
SLE ECONOMICS
Demand forecasting involves estimating future demand for a product or service based on past data and consumer behavior analysis. There are several types of demand forecasting including passive, active, firm-level, industry-level, and national-level forecasting. Common demand forecasting methods include surveys, expert opinions, sales force opinions, and market experimentation. An effective forecasting method should be simple, accurate, economical, flexible, and able to provide quick results. Demand forecasting is important for business planning, budgeting, management decision making, and evaluating performance.
Demand forecasting
Demand forecasting involves anticipating future demand for a company's products and services under uncertain competitive conditions. It is essential for production planning, purchasing raw materials, and other business decisions. Demand can be forecasted qualitatively using opinion surveys of consumers, salespeople, and experts, or quantitatively using statistical techniques like trend projection, regression analysis, and econometrics that analyze historical demand data and its relationships to economic indicators. Accurate demand forecasting is important for production planning, inventory control, sales forecasting, budgeting, and long-term growth strategies.
Ii mm.04.10
- The document discusses marketing research, including defining problems, developing research plans, collecting and analyzing information, and presenting findings.
- It describes different types of marketing research firms and the typical marketing research process of defining problems, developing plans, collecting data, analyzing data, and presenting findings.
- Various research methods, instruments, and metrics for measuring marketing productivity are discussed.
Demand forecasting ppt
This document discusses demand forecasting, which is the process of estimating demand for a product or service for a given period of time. It describes different types of demand forecasting such as short-term, mid-term, and long-term forecasting. Various methods of demand forecasting are also presented, including opinion poll methods like expert opinion, Delphi method, and market studies/experiments. Factors that influence demand forecasting are discussed as well, such as time factors, level of forecasting, market conditions, and product classification.
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- 2. Demand forecasting involves predicting the future demand for a good. The demand forecast for a good may involve : 1. Aggregate demand for the good. 2. An individual firm’s demand for the good. 3. Total demand of the industry for the good .
- 4. A. Consumer survey method Consumer survey is a direct method of obtaining relevant information relating to future demand for different goods. The forecasts are generally for the short term. Surveys can be of three types: Direct Interview A selected group of users or potential consumers are asked directly about their future plans for the good.
- 5. Complete enumeration All the consumers of the product are surveyed regarding their preferences about the product and their future plans if there is an increase in the price of the product. Sample survey Only a few consumers are selected from the relevant market for the good. The consumers may be selected on a random basis or through a sampling method B. EXPERT OPINION METHOD In this method, the opinions of experts are taken to forecast the demand for the product .The experts may be from the firm itself; for example, opinion of the sales managers, who possess sufficient knowledge about the market, may be taken. Surveys can be of three types :
- 6. Survey of the sales force A firm may sometimes seek the opinion of its sales representatives in assessing the future demand for the good. The Delphi technique In this technique, the opinion of a group of isolated experts is taken about the future demand for the product. Market experiments method It is one of the most widely used and influential forecasting technique where opinions and intution of management is utilised. It can be done in two ways -
- 7. A. CONTROLLED EXPERIMENT METHOD IN THIS METHOD, A SAMPLE OF CONSUMERS FROM THE TARGETED GROUP IS REQUESTED TO VISIT A PARTICULAR SHOP OF THE FIRM WHERE DIFFERENT BRANDS OF A PARTICULAR GOOD ARE ON SALE. THE CONSUMERS ARE GIVEN RELEVANT INFORMATION ABOUT THE DIFFERENT BRANDS. B. TEST MARKETING METHOD In test marketing, a test area is selected that represents the market where the firm has decided to launch the new good. This test area may be in the form of a few towns or cities.