Question

Read the caselet and answer the questions below.
Citizen watch company has registered its sales during the last five years as under.
2014 2015 2016 2017 2018
Sales (in crores) 200 250 300 350
Questions:
a) What is demand forecasting ?
b) Calculate the sales of citizen company for the next five years.
c) Should citizen company continue. its business in future
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Answer 1

Demand forecasting is a technique which is used to estimate the probable demand for a product or services in the future.

Explanation:

What is demand forecasting ?

• Demand forecasting is a combination of two words. The first one is Demand and another forecasting. Demand means outside requirements of a product or service.
• Demand forecasting is a technique which is used to estimate the probable demand for a product or services in the future.
• Analysis are made on the basis of of past demand for that product or service in the present market condition.