Question

Which is not a method of demand forecasting of new product

Answer 1

Answer:

The only non-forecasting method is exponential smoothing with a trend.

Answer 2

This is not a way to predict the need for a new product is:

• Demand forecasting is a field of forecasting analysis that seeks to understand and predict customer needs to improve corporate supply chain and business management decisions.

• Demand prediction is the art and science of predicting a future need for a product or service in the future.

• This forecast is based on past behavioral patterns and current trends.

• Thus, it is not just a matter of guessing the need for the future but of measuring the need scientifically and theoretically.

• The customer may misjudge his or her needs and may reverse his or her decision in the future which may mislead the survey.
• This approach is appropriate when goods are supplied in bulk to industries but not to domestic customers.