Demand forecasting depends on Ȃ

„ What do people say?

„ What do people do ?
„ What have people done ?

Techniques of demand forecasting can be classified

into Ȃ

1. Subjective
2. Quantitative
„
onsumers opinion survey :
In consumers opinion survey buyers are asked
about their future buying intensions of products.

„ Sales Force
omposite :
Sales person are asked about their estimated
sales target in their respective sales territories in a
given period of time.
„ m perts Opinion method:
This method of forecasting demand is essentially
based on opinion of e perts either e ternal or internal.
 3roup Discussion
 Delphi Technique

„ Jarket Simulation:
creates artificial market and instructs
consumers to shop with some money.
„ Test Jarketing:
the product is actually sold in certain
segments of the market, regarded as test market.
„ Trend Projection:
It is a powerful statistical tool used to predict to future values of a
variable on the basis of time series data.
Types Ȃ Seasonal trend,
yclical trend, Random events.

„ Barometric Techniques:
In barometric forecasting we construct an inde of relevant
economic indicators and forecast future trends on the basis of these
indicators.

„ mconometric Jethod:
mconometric method apply statistical tools on economic
theories to estimate economic variables.
„ Simultaneous mquation method:
It incorporates mutual dependence among
variables i.e. every variable influences another
variable.

Regression Statistics:
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