This document outlines key steps and methods for market and demand analysis:
1. Secondary information is collected to provide context, while primary data from market surveys supplements this.
2. Demand is characterized based on past and present effective demand, demand breakdowns, price trends, distribution methods, consumer profiles, and competition.
3. Common demand forecasting methods include qualitative approaches like expert panels, time series models like trend projection and exponential smoothing, and causal models like chain ratios and consumption levels based on income/price elasticities.
Demand forecasting involves using statistical data and analysis to predict future demand for a product. There are different types of forecasts including short term (less than 1 year), long term, and passive vs active. Short term forecasts help with sales, pricing, and target policies while long term helps with planning. Demand can be forecast at the macro, industry, or firm level. Statistical methods include time series analysis, regression analysis, and smoothing techniques like moving averages and exponential smoothing. Accurate demand forecasting is important for production, inventory, investment, and economic planning.
This document discusses project market forecasting and demand analysis. It defines forecasting as assessing future events based on past data in order to aid managerial decision making and long-term planning. The document outlines different forecasting techniques, elements of good forecasting like timeliness and accuracy, and the steps in the forecasting process including determining purpose, selecting a technique, analyzing data, making the forecast, and monitoring results. It also discusses types of forecasting, determinants of demand for a product or service, and key steps in conducting market and demand analysis for a new project.
Demand forecasting is predicting future demand for a firm's products. It helps with production planning and scheduling, acquiring inputs, financial planning, pricing strategies, and advertising planning. The key steps involve specifying objectives, determining timelines, choosing forecasting methods, collecting and adjusting data, estimating results, and interpreting them. Common techniques include surveys, statistical methods, opinion polls, trend projection methods, barometric methods, and econometric methods. Consumer survey techniques involve complete enumeration, sample surveys, and end-use methods. Expert opinion, Delphi methods, and managerial surveys are also used. Statistical techniques include trend projections, barometric indicators, and econometric regression and simultaneous equation models.
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.
This document discusses demand forecasting techniques used by product managers. It defines demand forecasting as using statistical data and market determinants to predict future demand. There are two types of forecasts: passive, which assume no changes to company actions, and active, which account for likely changes. Short term forecasts relate to periods under a year and are used for production, sales, pricing and target policies. Long term forecasts cover multiple years and are used for business, workforce and financial planning. The document outlines various demand forecasting techniques including consumer and opinion polls, market experiments, and analytical methods.
The document discusses steps in the marketing research process and key concepts in marketing research. It provides examples of:
1) The five steps in the marketing research process: define the problem, develop a research plan, collect information, analyze information, and present findings.
2) Types of marketing metrics like market size, market share, and customer satisfaction that can be measured.
3) Common sampling techniques in marketing research like probability, non-probability, cluster, and quota samples.
Demand forecasting can be done using two approaches - obtaining information from experts or consumers, or using past sales data through statistical techniques. [1] Expert surveys include opinion polls and the Delphi technique. [2] Consumer surveys can be a complete enumeration or sample survey. [3] Complex statistical methods include time series analysis, correlation/regression analysis, and simultaneous equation models. Demand forecasting helps with production, financial, and workforce planning as well as decision making.
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.
Demand forecasting involves using statistical data and analysis to predict future demand for a product. There are different types of forecasts including short term (less than 1 year), long term, and passive vs active. Short term forecasts help with sales, pricing, and target policies while long term helps with planning. Demand can be forecast at the macro, industry, or firm level. Statistical methods include time series analysis, regression analysis, and smoothing techniques like moving averages and exponential smoothing. Accurate demand forecasting is important for production, inventory, investment, and economic planning.
This document discusses project market forecasting and demand analysis. It defines forecasting as assessing future events based on past data in order to aid managerial decision making and long-term planning. The document outlines different forecasting techniques, elements of good forecasting like timeliness and accuracy, and the steps in the forecasting process including determining purpose, selecting a technique, analyzing data, making the forecast, and monitoring results. It also discusses types of forecasting, determinants of demand for a product or service, and key steps in conducting market and demand analysis for a new project.
Demand forecasting is predicting future demand for a firm's products. It helps with production planning and scheduling, acquiring inputs, financial planning, pricing strategies, and advertising planning. The key steps involve specifying objectives, determining timelines, choosing forecasting methods, collecting and adjusting data, estimating results, and interpreting them. Common techniques include surveys, statistical methods, opinion polls, trend projection methods, barometric methods, and econometric methods. Consumer survey techniques involve complete enumeration, sample surveys, and end-use methods. Expert opinion, Delphi methods, and managerial surveys are also used. Statistical techniques include trend projections, barometric indicators, and econometric regression and simultaneous equation models.
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.
This document discusses demand forecasting techniques used by product managers. It defines demand forecasting as using statistical data and market determinants to predict future demand. There are two types of forecasts: passive, which assume no changes to company actions, and active, which account for likely changes. Short term forecasts relate to periods under a year and are used for production, sales, pricing and target policies. Long term forecasts cover multiple years and are used for business, workforce and financial planning. The document outlines various demand forecasting techniques including consumer and opinion polls, market experiments, and analytical methods.
The document discusses steps in the marketing research process and key concepts in marketing research. It provides examples of:
1) The five steps in the marketing research process: define the problem, develop a research plan, collect information, analyze information, and present findings.
2) Types of marketing metrics like market size, market share, and customer satisfaction that can be measured.
3) Common sampling techniques in marketing research like probability, non-probability, cluster, and quota samples.
Demand forecasting can be done using two approaches - obtaining information from experts or consumers, or using past sales data through statistical techniques. [1] Expert surveys include opinion polls and the Delphi technique. [2] Consumer surveys can be a complete enumeration or sample survey. [3] Complex statistical methods include time series analysis, correlation/regression analysis, and simultaneous equation models. Demand forecasting helps with production, financial, and workforce planning as well as decision making.
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.
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.
Cahpet iv Project Preparation and Analysis.pptxtadegebreyesus
This document discusses project preparation and analysis, with a focus on market and demand analysis. It outlines the key steps in conducting a market and demand analysis: situational analysis to understand the market context, collecting primary and secondary data, characterizing the market by segmenting demand and examining prices/distribution, and forecasting future demand using qualitative and statistical methods. The overall goal of market analysis is to estimate potential market size and a project's expected market share to inform feasibility.
Demand forecasting involves anticipating future demand for an organization's products and services under uncertain competitive conditions. Accurate forecasts are essential for production planning, purchasing inputs, and other business decisions. There are qualitative and quantitative forecasting methods. Qualitative methods include consumer surveys, salesforce opinions, and expert panels. Quantitative methods use historical sales data and statistical analysis, such as time series analysis, regression analysis, and econometric modeling of economic factors. Accurate demand forecasting is important for production planning, sales forecasting, inventory control, and long-term strategic planning.
This document discusses demand forecasting techniques. It describes short term and long term demand forecasting and their objectives. Short term forecasting relates to periods under a year and is used for production, sales, pricing and target policies. Long term forecasting refers to forecasts over longer periods for business, manpower and financial planning. Demand forecasting requires market research, data analysis, coordination and management decisions. Key techniques include surveys, opinion polls, market studies and experiments.
Demand forecasting refers to predicting future demand for a company's products using controllable and uncontrollable factors. It involves determining objectives, important sales factors, an appropriate forecasting method, collecting and analyzing data, making assumptions, specific forecasts, and periodic reviews. Common methods include survey methods for short-term forecasts and statistical methods using historical and cross-sectional data for long-term forecasts.
This document discusses demand forecasting. It defines demand forecasting as predicting future demand. The objectives of demand forecasting are to aid both short-term planning like production scheduling, and long-term planning like capacity expansion. Common techniques for demand forecasting include surveys of consumers to predict future consumption, opinion polls of industry experts, and statistical methods that analyze historical demand trends. The document also discusses factors that influence demand and the various competitive forces that impact businesses according to Porter's five forces model.
This document discusses various demand forecasting methods and facility planning concepts. It begins by explaining the need for demand forecasting and some common forecasting methods like time series analysis, simple moving average, exponential smoothing, and regression analysis. It also discusses qualitative forecasting techniques like market research, focus groups, and historical analogy. The document then covers factors that influence facility location according to various theories. Finally, it provides a brief overview of capacity planning and the key steps involved.
The document discusses using customer insight to drive performance for a large wireless communication company. It describes implementing a phased approach including developing tactical targeting tools, identifying growth opportunities, and establishing an infrastructure to capture value. Case studies demonstrate segmenting the customer base to understand needs, prioritize initiatives, and maximize revenue and retention through targeted campaigns.
The document discusses various considerations and methods for demand forecasting, including factors that influence demand forecasting, different levels and types of forecasts, historical and statistical analysis techniques, and Engle's Law on consumption patterns relative to income levels. Demand forecasting is important for organizations and economies to function efficiently, and there are multiple approaches that can be taken depending on the specific product, time horizon, and other contextual factors.
Student Assessment Guide
BSBMKG507
Interpret Market Trends and Developments
Intellectual Property Statement
VET Fair (ABN 44 983 956 589) is a provider of educational products and services for the vocational education and training (VET) sector.
By purchasing the ‘BSBMKG507 Interpret Market Trends and Developments’ assessment resources (“Product”), you are entitled to use it for educational purposes only, but the intellectual property remains with VET Fair. This Product includes the following components:
· Assessor Guide
· Student Assessment Guide
· Student Assessment Workbook
· any other material to support the implementation of the Product (e.g. policy and procedures, templates, etc.).
VET Fair owns all copyright to the Product as subject to the provisions of the Copyright Act 1968.
This purchase grants you a non-exclusive, perpetual, non-sublicensable, and non-shareable right to use and contextualise this Product. You have the right to distribute unlimited copies of this Product to your students or internal staff, limited to only for educational purposes; however, you must not:
1. reproduce this Product or produce other assessment resources based on this Product
1. share this Product with any other external person or entity other than your students and internal staff through physical or electronic including online access
1. use this Product for any other purposes than education (e.g. assessing student competency, conducting validation and moderation activities, etc.)
1. resell this Product to any party of individual
1. use this Product without affixing the following statement in each copy of a modified, adapted, customised or contextualised version of this Product that is distributed electronically or in a physical format to your target learner audience:
“The assessment activities and information in this guide are derived from the BSBMKG507 Interpret Market Trends and Developments assessment resources provided by VET Fair. VET Fair owns all copyright to this information and the intellectual property of this resource remains with VET Fair.”
Breaches of this copyright will result in VET Fair claiming for loss of sales.
Table of Contents
Assessment Information 1
Assessment Event 1 – Knowledge Questions 3
Question 1 3
Question 2 4
Question 3 4
Question 4 4
Question 5 4
Assessment Event 2: A & A Coffee Simulation 6
Task 1: Interpret Trends and Market Developments 6
1.1 Use statistical analysis of market data to interpret market trends and developments 6
1.2 Analyse market trends and developments for their potential impact on the business 6
1.3 Use quantitative data analysis to interpret comparative market data 7
1.4 Perform data analysis to review business performance 7
1.5 Analyse competitors to identify potential opportunities and threats 7
Task 2: Analyse Qualitative Results 8
2.1 Analyse performance data from all areas of the business 8
2.2 Identify over-performing and under-performing products 9
2.3 Forecast market needs using qualita.
This document provides an overview of market and demand analysis for a new project. It discusses the key steps in analyzing market and demand, including specifying objectives to understand customer needs, collecting primary and secondary market information, conducting market surveys, characterizing the market segments and competitors, forecasting demand using various quantitative and qualitative methods, and developing a marketing plan. The overall aim is to estimate the total market demand and the project's potential market share to evaluate its profitability.
This document provides an overview of demand forecasting. It defines demand forecasting as estimating future sales based on marketing plans and external forces. It discusses different categories (passive vs active) and timeframes (short vs long term) of forecasts. The key components and methods of demand forecasting are also outlined, including opinion polling, statistical/analytical techniques like trend projection, regression, and econometric analysis. The importance of demand forecasting is emphasized for production planning, sales forecasting, inventory control, economic policymaking, and long-term growth.
Research Marketing Ch3 Edited.powerpointcjoypingaron
The document outlines the steps of the marketing research process. It discusses 8 key steps: 1) determining the need for research, 2) defining the problem/opportunity, 3) establishing research objectives, 4) determining the research design, 5) identifying information sources and types, 6) determining data collection methods, 7) designing data collection forms, and 8) determining sample size and developing a sampling plan. The goal of marketing research is to gather and analyze data relevant to a specific marketing situation to help organizations make better business decisions.
This document summarizes market and demand analysis techniques. It describes conducting market surveys to characterize the market and forecast demand. Key steps include defining the target population, developing questionnaires, and analyzing collected information. Situational analysis involves talking to customers, competitors and others to understand the market. Demand forecasting methods are described, including qualitative jury methods, time series projection using trends or averages, and causal methods relating demand to economic indicators. Uncertainties in forecasting include data limitations, unrealistic assumptions, and inability to account for changes in technology, policy or the environment.
This is supply chain article mainly for manufacturing supply chain professional in the field of sourcing and procurement.
This gives clear strategy of sourcing types of portfolio category in the procurement function. This will also useful to management student for reference purpose.
This is procurement strategy article for purchasing professionals
Deep dive in the strategic approach in the business function of purchase.and sourcing activities.
The document discusses various facets of project analysis including market analysis, technical analysis, financial analysis, economic analysis, and ecological analysis. It focuses on market and demand analysis, providing details on situation analysis and objectives specification, collecting primary and secondary data through market surveys, characterizing the market, forecasting demand, and planning the market. It also briefly discusses economic analysis involving a social-cost benefit approach and the importance of ecological analysis for projects with environmental impacts.
The document discusses various facets of project analysis including market analysis, technical analysis, financial analysis, economic analysis, and ecological analysis. It focuses on market and demand analysis, providing details on situation analysis and objectives specification, collecting primary and secondary data through surveys, characterizing the market, forecasting demand, and planning the market. It also briefly discusses economic analysis involving a social-cost benefit approach and the importance of ecological analysis for projects with environmental impacts.
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.
Cahpet iv Project Preparation and Analysis.pptxtadegebreyesus
This document discusses project preparation and analysis, with a focus on market and demand analysis. It outlines the key steps in conducting a market and demand analysis: situational analysis to understand the market context, collecting primary and secondary data, characterizing the market by segmenting demand and examining prices/distribution, and forecasting future demand using qualitative and statistical methods. The overall goal of market analysis is to estimate potential market size and a project's expected market share to inform feasibility.
Demand forecasting involves anticipating future demand for an organization's products and services under uncertain competitive conditions. Accurate forecasts are essential for production planning, purchasing inputs, and other business decisions. There are qualitative and quantitative forecasting methods. Qualitative methods include consumer surveys, salesforce opinions, and expert panels. Quantitative methods use historical sales data and statistical analysis, such as time series analysis, regression analysis, and econometric modeling of economic factors. Accurate demand forecasting is important for production planning, sales forecasting, inventory control, and long-term strategic planning.
This document discusses demand forecasting techniques. It describes short term and long term demand forecasting and their objectives. Short term forecasting relates to periods under a year and is used for production, sales, pricing and target policies. Long term forecasting refers to forecasts over longer periods for business, manpower and financial planning. Demand forecasting requires market research, data analysis, coordination and management decisions. Key techniques include surveys, opinion polls, market studies and experiments.
Demand forecasting refers to predicting future demand for a company's products using controllable and uncontrollable factors. It involves determining objectives, important sales factors, an appropriate forecasting method, collecting and analyzing data, making assumptions, specific forecasts, and periodic reviews. Common methods include survey methods for short-term forecasts and statistical methods using historical and cross-sectional data for long-term forecasts.
This document discusses demand forecasting. It defines demand forecasting as predicting future demand. The objectives of demand forecasting are to aid both short-term planning like production scheduling, and long-term planning like capacity expansion. Common techniques for demand forecasting include surveys of consumers to predict future consumption, opinion polls of industry experts, and statistical methods that analyze historical demand trends. The document also discusses factors that influence demand and the various competitive forces that impact businesses according to Porter's five forces model.
This document discusses various demand forecasting methods and facility planning concepts. It begins by explaining the need for demand forecasting and some common forecasting methods like time series analysis, simple moving average, exponential smoothing, and regression analysis. It also discusses qualitative forecasting techniques like market research, focus groups, and historical analogy. The document then covers factors that influence facility location according to various theories. Finally, it provides a brief overview of capacity planning and the key steps involved.
The document discusses using customer insight to drive performance for a large wireless communication company. It describes implementing a phased approach including developing tactical targeting tools, identifying growth opportunities, and establishing an infrastructure to capture value. Case studies demonstrate segmenting the customer base to understand needs, prioritize initiatives, and maximize revenue and retention through targeted campaigns.
The document discusses various considerations and methods for demand forecasting, including factors that influence demand forecasting, different levels and types of forecasts, historical and statistical analysis techniques, and Engle's Law on consumption patterns relative to income levels. Demand forecasting is important for organizations and economies to function efficiently, and there are multiple approaches that can be taken depending on the specific product, time horizon, and other contextual factors.
Student Assessment Guide
BSBMKG507
Interpret Market Trends and Developments
Intellectual Property Statement
VET Fair (ABN 44 983 956 589) is a provider of educational products and services for the vocational education and training (VET) sector.
By purchasing the ‘BSBMKG507 Interpret Market Trends and Developments’ assessment resources (“Product”), you are entitled to use it for educational purposes only, but the intellectual property remains with VET Fair. This Product includes the following components:
· Assessor Guide
· Student Assessment Guide
· Student Assessment Workbook
· any other material to support the implementation of the Product (e.g. policy and procedures, templates, etc.).
VET Fair owns all copyright to the Product as subject to the provisions of the Copyright Act 1968.
This purchase grants you a non-exclusive, perpetual, non-sublicensable, and non-shareable right to use and contextualise this Product. You have the right to distribute unlimited copies of this Product to your students or internal staff, limited to only for educational purposes; however, you must not:
1. reproduce this Product or produce other assessment resources based on this Product
1. share this Product with any other external person or entity other than your students and internal staff through physical or electronic including online access
1. use this Product for any other purposes than education (e.g. assessing student competency, conducting validation and moderation activities, etc.)
1. resell this Product to any party of individual
1. use this Product without affixing the following statement in each copy of a modified, adapted, customised or contextualised version of this Product that is distributed electronically or in a physical format to your target learner audience:
“The assessment activities and information in this guide are derived from the BSBMKG507 Interpret Market Trends and Developments assessment resources provided by VET Fair. VET Fair owns all copyright to this information and the intellectual property of this resource remains with VET Fair.”
Breaches of this copyright will result in VET Fair claiming for loss of sales.
Table of Contents
Assessment Information 1
Assessment Event 1 – Knowledge Questions 3
Question 1 3
Question 2 4
Question 3 4
Question 4 4
Question 5 4
Assessment Event 2: A & A Coffee Simulation 6
Task 1: Interpret Trends and Market Developments 6
1.1 Use statistical analysis of market data to interpret market trends and developments 6
1.2 Analyse market trends and developments for their potential impact on the business 6
1.3 Use quantitative data analysis to interpret comparative market data 7
1.4 Perform data analysis to review business performance 7
1.5 Analyse competitors to identify potential opportunities and threats 7
Task 2: Analyse Qualitative Results 8
2.1 Analyse performance data from all areas of the business 8
2.2 Identify over-performing and under-performing products 9
2.3 Forecast market needs using qualita.
This document provides an overview of market and demand analysis for a new project. It discusses the key steps in analyzing market and demand, including specifying objectives to understand customer needs, collecting primary and secondary market information, conducting market surveys, characterizing the market segments and competitors, forecasting demand using various quantitative and qualitative methods, and developing a marketing plan. The overall aim is to estimate the total market demand and the project's potential market share to evaluate its profitability.
This document provides an overview of demand forecasting. It defines demand forecasting as estimating future sales based on marketing plans and external forces. It discusses different categories (passive vs active) and timeframes (short vs long term) of forecasts. The key components and methods of demand forecasting are also outlined, including opinion polling, statistical/analytical techniques like trend projection, regression, and econometric analysis. The importance of demand forecasting is emphasized for production planning, sales forecasting, inventory control, economic policymaking, and long-term growth.
Research Marketing Ch3 Edited.powerpointcjoypingaron
The document outlines the steps of the marketing research process. It discusses 8 key steps: 1) determining the need for research, 2) defining the problem/opportunity, 3) establishing research objectives, 4) determining the research design, 5) identifying information sources and types, 6) determining data collection methods, 7) designing data collection forms, and 8) determining sample size and developing a sampling plan. The goal of marketing research is to gather and analyze data relevant to a specific marketing situation to help organizations make better business decisions.
This document summarizes market and demand analysis techniques. It describes conducting market surveys to characterize the market and forecast demand. Key steps include defining the target population, developing questionnaires, and analyzing collected information. Situational analysis involves talking to customers, competitors and others to understand the market. Demand forecasting methods are described, including qualitative jury methods, time series projection using trends or averages, and causal methods relating demand to economic indicators. Uncertainties in forecasting include data limitations, unrealistic assumptions, and inability to account for changes in technology, policy or the environment.
This is supply chain article mainly for manufacturing supply chain professional in the field of sourcing and procurement.
This gives clear strategy of sourcing types of portfolio category in the procurement function. This will also useful to management student for reference purpose.
This is procurement strategy article for purchasing professionals
Deep dive in the strategic approach in the business function of purchase.and sourcing activities.
The document discusses various facets of project analysis including market analysis, technical analysis, financial analysis, economic analysis, and ecological analysis. It focuses on market and demand analysis, providing details on situation analysis and objectives specification, collecting primary and secondary data through market surveys, characterizing the market, forecasting demand, and planning the market. It also briefly discusses economic analysis involving a social-cost benefit approach and the importance of ecological analysis for projects with environmental impacts.
The document discusses various facets of project analysis including market analysis, technical analysis, financial analysis, economic analysis, and ecological analysis. It focuses on market and demand analysis, providing details on situation analysis and objectives specification, collecting primary and secondary data through surveys, characterizing the market, forecasting demand, and planning the market. It also briefly discusses economic analysis involving a social-cost benefit approach and the importance of ecological analysis for projects with environmental impacts.
Non-actors, in the context of various fields such as politics, economics, and sociology, refer to individuals, groups, or entities that do not hold formal positions of power or authority but still exert influence or play significant roles in shaping outcomes. These non-actors can include grassroots movements, civil society organizations, communities, informal networks, and even individuals who, despite lacking institutional authority, have the ability to impact decision-making processes, public opinion, and societal change. In this essay, we will explore the concept of non-actors, their roles, significance, and impact across different domains.
Roles and Significance of Non-Actors:
Grassroots Movements: Grassroots movements are initiatives that emerge from the local community level, driven by ordinary citizens who come together to address common concerns or advocate for specific causes. These movements often mobilize people, raise awareness, and apply pressure on policymakers to effect change. Examples include environmental activism, human rights campaigns, and community development projects.
Civil Society Organizations (CSOs): CSOs are non-governmental, non-profit organizations that operate independently of the government and are often driven by a specific mission or set of values. These organizations play vital roles in advocating for social justice, providing services to marginalized groups, and holding governments and corporations accountable. Examples include charities, advocacy groups, and humanitarian organizations.
Social Media Influencers: With the rise of social media platforms, individuals with large followings, known as social media influencers, have gained significant influence over public opinion, consumer behavior, and cultural trends. These influencers, often not affiliated with traditional media or institutions, can shape discussions, promote products, and mobilize support for various causes.
Informal Networks: Informal networks, such as friendship groups, community associations, and online forums, serve as channels for communication, collaboration, and social interaction outside of formal structures. These networks facilitate the exchange of information, ideas, and resources, allowing individuals to organize, mobilize, and influence decision-making processes.
Thought Leaders: Thought leaders are individuals who are recognized as authorities or experts in their respective fields and whose opinions and insights carry weight and influence. These individuals, often academics, intellectuals, or professionals, shape public discourse, provide guidance, and inspire action through their writings, speeches, and public appearances.
Impact of Non-Actors:
Agenda Setting: Non-actors can influence the political agenda by raising awareness of specific issues, framing debates, and shaping public discourse. Grassroots movements, advocacy campaigns, and social media influencers can draw attention to overlooked or marginalized issues, forcing.
Project Appraisal
Project appraisal is a crucial process in project management that involves assessing the feasibility, viability, and potential impact of a proposed project before making investment decisions. It is a systematic evaluation of various aspects of a project to determine whether it aligns with the organization's objectives, meets stakeholder requirements, and is likely to deliver the expected benefits. This comprehensive evaluation helps stakeholders make informed decisions about whether to proceed with the project, modify its scope, or abandon it altogether. In this essay, we will delve into the concept of project appraisal, its importance, key components, methods, and best practices.
Importance of Project Appraisal:
Project appraisal plays a pivotal role in the project lifecycle as it serves several crucial purposes:
Risk Mitigation: By conducting a thorough appraisal, potential risks and challenges associated with the project can be identified early on. This allows stakeholders to develop risk mitigation strategies and contingency plans to address these issues effectively.
Resource Allocation: Appraisal helps in determining the allocation of resources such as finances, manpower, and time to ensure optimal utilization and efficiency throughout the project.
Cost-Benefit Analysis: It enables stakeholders to evaluate the expected costs and benefits of the project, helping them assess its financial viability and potential return on investment (ROI).
Stakeholder Alignment: Project appraisal facilitates communication and alignment among stakeholders by clarifying project objectives, expectations, and deliverables upfront.
Decision Making: Ultimately, project appraisal provides decision-makers with the necessary information and insights to make informed decisions about whether to proceed with the project, modify its scope, or discontinue it based on its feasibility and potential impact.
Components of Project Appraisal:
Project appraisal involves the evaluation of various components to assess the feasibility and viability of a proposed project. Some of the key components include:
Project Objectives: Clearly defined project objectives are essential for determining its feasibility and alignment with organizational goals. Appraisal involves assessing whether the project objectives are realistic, achievable, and measurable.
Market Analysis: Understanding market dynamics, demand trends, competition, and customer preferences is critical for assessing the market potential of the project. Market analysis helps identify opportunities, risks, and challenges that may impact the project's success.
Technical Feasibility: This involves evaluating the technical aspects of the project, including technology requirements, infrastructure, and operational capabilities. It assesses whether the project can be implemented using available resources and technology.
Financial Viability: Financial appraisal involves assessing the project's costs, funding.
What Lessons Can New Investors Learn from Newman Leech’s Success?Newman Leech
Newman Leech's success in the real estate industry is based on key lessons and principles, offering practical advice for new investors and serving as a blueprint for building a successful career.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Explore the world of investments with an in-depth comparison of the stock market and real estate. Understand their fundamentals, risks, returns, and diversification strategies to make informed financial decisions that align with your goals.
Madhya Pradesh, the "Heart of India," boasts a rich tapestry of culture and heritage, from ancient dynasties to modern developments. Explore its land records, historical landmarks, and vibrant traditions. From agricultural expanses to urban growth, Madhya Pradesh offers a unique blend of the ancient and modern.
Fabular Frames and the Four Ratio ProblemMajid Iqbal
Digital, interactive art showing the struggle of a society in providing for its present population while also saving planetary resources for future generations. Spread across several frames, the art is actually the rendering of real and speculative data. The stereographic projections change shape in response to prompts and provocations. Visitors interact with the model through speculative statements about how to increase savings across communities, regions, ecosystems and environments. Their fabulations combined with random noise, i.e. factors beyond control, have a dramatic effect on the societal transition. Things get better. Things get worse. The aim is to give visitors a new grasp and feel of the ongoing struggles in democracies around the world.
Stunning art in the small multiples format brings out the spatiotemporal nature of societal transitions, against backdrop issues such as energy, housing, waste, farmland and forest. In each frame we see hopeful and frightful interplays between spending and saving. Problems emerge when one of the two parts of the existential anaglyph rapidly shrinks like Arctic ice, as factors cross thresholds. Ecological wealth and intergenerational equity areFour at stake. Not enough spending could mean economic stress, social unrest and political conflict. Not enough saving and there will be climate breakdown and ‘bankruptcy’. So where does speculative design start and the gambling and betting end? Behind each fabular frame is a four ratio problem. Each ratio reflects the level of sacrifice and self-restraint a society is willing to accept, against promises of prosperity and freedom. Some values seem to stabilise a frame while others cause collapse. Get the ratios right and we can have it all. Get them wrong and things get more desperate.
Dr. Alyce Su Cover Story - China's Investment Leadermsthrill
In World Expo 2010 Shanghai – the most visited Expo in the World History
https://www.britannica.com/event/Expo-Shanghai-2010
China’s official organizer of the Expo, CCPIT (China Council for the Promotion of International Trade https://en.ccpit.org/) has chosen Dr. Alyce Su as the Cover Person with Cover Story, in the Expo’s official magazine distributed throughout the Expo, showcasing China’s New Generation of Leaders to the World.
How to Invest in Cryptocurrency for Beginners: A Complete GuideDaniel
Cryptocurrency is digital money that operates independently of a central authority, utilizing cryptography for security. Unlike traditional currencies issued by governments (fiat currencies), cryptocurrencies are decentralized and typically operate on a technology called blockchain. Each cryptocurrency transaction is recorded on a public ledger, ensuring transparency and security.
Cryptocurrencies can be used for various purposes, including online purchases, investment opportunities, and as a means of transferring value globally without the need for intermediaries like banks.
The Rise and Fall of Ponzi Schemes in America.pptxDiana Rose
Ponzi schemes, a notorious form of financial fraud, have plagued America’s investment landscape for decades. Named after Charles Ponzi, who orchestrated one of the most infamous schemes in the early 20th century, these fraudulent operations promise high returns with little or no risk, only to collapse and leave investors with significant losses. This article explores the nature of Ponzi schemes, notable cases in American history, their impact on victims, and measures to prevent falling prey to such scams.
Understanding Ponzi Schemes
A Ponzi scheme is an investment scam where returns are paid to earlier investors using the capital from newer investors, rather than from legitimate profit earned. The scheme relies on a constant influx of new investments to continue paying the promised returns. Eventually, when the flow of new money slows down or stops, the scheme collapses, leaving the majority of investors with substantial financial losses.
Historical Context: Charles Ponzi and His Legacy
Charles Ponzi is the namesake of this deceptive practice. In the 1920s, Ponzi promised investors in Boston a 50% return within 45 days or 100% return in 90 days through arbitrage of international reply coupons. Initially, he paid returns as promised, not from profits, but from the investments of new participants. When his scheme unraveled, it resulted in losses exceeding $20 million (equivalent to about $270 million today).
Notable American Ponzi Schemes
1. Bernie Madoff: Perhaps the most notorious Ponzi scheme in recent history, Bernie Madoff’s fraud involved $65 billion. Madoff, a well-respected figure in the financial industry, promised steady, high returns through a secretive investment strategy. His scheme lasted for decades before collapsing in 2008, devastating thousands of investors, including individuals, charities, and institutional clients.
2. Allen Stanford: Through his company, Stanford Financial Group, Allen Stanford orchestrated a $7 billion Ponzi scheme, luring investors with fraudulent certificates of deposit issued by his offshore bank. Stanford promised high returns and lavish lifestyle benefits to his investors, which ultimately led to a 110-year prison sentence for the financier in 2012.
3. Tom Petters: In a scheme that lasted more than a decade, Tom Petters ran a $3.65 billion Ponzi scheme, using his company, Petters Group Worldwide. He claimed to buy and sell consumer electronics, but in reality, he used new investments to pay off old debts and fund his extravagant lifestyle. Petters was convicted in 2009 and sentenced to 50 years in prison.
4. Eric Dalius and Saivian: Eric Dalius, a prominent figure behind Saivian, a cashback program promising high returns, is under scrutiny for allegedly orchestrating a Ponzi scheme. Saivian enticed investors with promises of up to 20% cash back on everyday purchases. However, investigations suggest that the returns were paid using new investments rather than legitimate profits. The collapse of Saivian l
How to Identify the Best Crypto to Buy Now in 2024.pdfKezex (KZX)
To identify the best crypto to buy in 2024, analyze market trends, assess the project's fundamentals, review the development team and community, monitor adoption rates, and evaluate risk tolerance. Stay updated with news, regulatory changes, and expert opinions to make informed decisions.
2. OUTLINE
Situational analysis and specification of objectives
Collection of secondary information
Conduct of market survey
Characterisation of the market
Demand forecasting
Uncertainties in demand forecasting
Market planning
4. Situational Analysis
In order to get a “feel” of the relationship between the product and its
market, the project analyst may informally talk to customers,
competitors, middlemen, and others in the industry. Wherever possible,
he may look at the experience of the company to learn about the
preferences and purchasing power of customers, actions and strategies of
competitors, and practices of the middlemen.
5. Collection of Secondary Information
Secondary information is information that has been gathered in
some other context and is readily available.
Secondary information provides the base and the starting point
for the market and demand analysis. It indicates what is known
and often provides leads and cues for gathering primary
information required for further analysis.
6. Evaluation of Secondary Information
While secondary information is available economically and readily (provided the market
analyst is able to locate it), its reliability, accuracy, and relevance for the purpose under
consideration must be carefully examined. The market analyst should seek to know:
Who gathered the information? What was the objective?
When was the information gathered? When was it published?
How representative was the period for which the information was gathered?
Have the terms in the study been carefully and unambiguously defined?
What was the target population?
How was the sample chosen?
How representative was the sample?
How satisfactory was the process of information gathering?
What was the degree of sampling bias and non-response bias in the information
gathered?
What was the degree of misrepresentation by respondents?
7. Market Survey
Secondary information, though useful, often does not provide a
comprehensive basis for market and demand analysis. It needs to be
supplemented with primary information gathered through a market
survey.
The market survey may be a census survey or a sample survey;
typically it is the latter.
8. Information Sought in a Market Survey
The information sought in a market survey may relate to one or more of the
following:
Total demand and rate of growth of demand
Demand in different segments of the market
Income and price elasticities of demand
Motives for buying
Purchasing plans and intentions
Satisfaction with existing products
Unsatisfied needs
Attitudes toward various products
Distributive trade practices and preferences
Socio-economic characteristics of buyers
9. Steps in a Sample Survey
Typically, a sample survey involves the following steps:
1. Define the target population.
2. Select the sampling scheme and sample size.
3. Develop the questionnaire.
4. Recruit and train the field investigators.
5. Obtain information as per the questionnaire from the sample
of respondents.
6. Scrutinise the information gathered.
7. Analyse and interpret the information.
10. Characterisation of the Market
Based on the information gathered from secondary sources and through
the market survey, the market for the product/service may be described
in terms of the following:
• Effective demand in the past and present
• Breakdown of demand
• Price
• Methods of distribution and sales promotion
• Consumers
• Supply and competition
• Government policy
11. I Qualitative Methods : These methods rely essentially on the judgment of experts to
translate qualitative information into quantitative estimates. The important
qualitative methods are :
Jury of executive method
Delphi method
II Time Series Projection Methods : These methods generate forecasts on the basis of
an analysis of the historical time series . The important time series projection
methods are :
Trend projection –method
Exponential smoothing method
Moving average method
III Causal Methods : More analytical than the preceding methods, causal methods
seek to develop forecasts on the basis of cause-effect relationships specified in an
explicit, quantitative manner. The important causal methods are :
Chain ratio method
Consumption level method
End use method
Leading indicator method
Econometric method
Methods of Demand Forecasting
12. Jury of Executive Opinion Method
This method involves soliciting the opinion of a group of managers on
expected future sales and combining them into a sales estimate
Pros
• It is an expeditious method
• It permits a wide range of factors to be considered
• It appeals to managers
Cons
• The biases cannot be unearthed easily
• Its reliability is questionable
13. Delphi Method
This method is used for eliciting the opinions of a group of experts with the
help of a mail survey. The steps involved in this method are :
1. A group of experts is sent a questionnaire by mail and asked to express
their views.
2. The responses received from the experts are summarised without
disclosing the identity of the experts, and sent back to the experts, along
with a questionnaire meant to probe further the reasons for extreme views
expressed in the first round.
3. The process may be continued for one or more rounds till a reasonable
agreement emerges in the view of the experts.
14. Pros
• It is intelligible to users
• It seems to be more accurate and less expensive than the
traditional face-to-face group meetings
Cons
There are some question marks: What is the value of the expert opinion?
What is the contribution of additional rounds and feedback to accuracy?
15. Trend Projection Method
The trend projection method involves (a) determining the trend of
consumption by analysing past consumption statistics and (b)
projecting future consumption by extrapolating the trend.
Linear relationship : Yt = a + bT
Exponential relationship : Yt = aebt
Polynomial relationship : Yt = a0 + a1t + a2t2 …….an tn
Cobb Douglas relationship : Yt = atb
16. Exponential Smoothing Method
In exponential smoothing, forecasts are modified in the light of
observed errors. If the forecast value for year t, Ft , is less than the
actual value for year t, St, the forecast for the year t+1, Ft+1, is set higher
than Ft. If Ft> St , Ft+1 is set lower than Ft. In general
Ft+1 = Ft + a et (4.7)
where Ft + 1 = forecast for year t + 1
α = smoothing parameter (which lies between 0 and 1)
et = error in the forecast for year t = St - Ft
17. Moving Average Method
As per the moving average method of sales forecasting, the forecast for
the next period is equal to the average of the sales for several preceding
periods.
In symbols,
St + St-1 + … + St-n+1
Ft+1 = (4.8)
n
where Ft+1 = forecast for the next period
St = sales for the current period
n = period over which averaging is done
18. The potential sales of a product may be estimated by applying a series of factors to a
measure of aggregate demand. For example, the General Foods of the U. S estimated the
potential sales for a new product, a freeze-fried instant coffee (Maxim), in the following
manner :
Chain Ratio Method
Total amount of coffee sales : 174.5 million units
Proportion of coffee used at home : 0.835
Coffee used at home : 145.7 million units
Proportion of non-decaffeinated coffee used at home : 0.937
Non-decaffeinated coffee used at home : 136.5 million units
Proportion of instant coffee : 0.400
Instant non-decaffeinated coffee used at home : 54.6 million units
Estimated long-run market share for Maxim : 0.08
Potential sales of Maxim : 4.37 million units
19. Consumption Level Method
The method estimates consumption level on the basis of elasticity
coefficients, the important ones being the income elasticity of demand
and the price elasticity of demand.
20. Income Elasticity of Demand
The income elasticity of demand reflects the responsiveness of demand to variations
in income. It is measured as follows :
Q2-Q1 I1 + I2
EI = x (4.9)
I2 –I1 Q2 +Q1
where EI = income elasticity of demand
Q1 = quantity demanded in the base year
Q2 = quantity demanded in the following year
I1 = income level in the base year
I2 = income level in the following year.
Example The following information is available on quantity demanded and income
level: Q1 = 50 , Q2 = 55 , I1 = 1,000 and I2 = 1,020 . What is the income elasticity of
demand? The income elasticity of demand is :
55 – 50 1,000 + 1,020
EI = x = 4.81
1,020 –1,000 55 + 50
21. Price Elasticity of Demand
The price elasticity of demand measures the responsiveness of demand to variations
in price. It is defined as :
Q2 – Q1 P1 + P2
Ep = x (4.10)
P2 – P1 Q2 + Q1
where Ep = price elasticity of demand
Q1 = quantity demanded in the base year
Q2 = quantity demanded in the following year
P1 = price per unit in the base year
P2 = price per unit in the following year
Example The following information is available about a certain product :
P1= Rs.600, Q1 = 10,000, P2 = Rs. 800, Q2 = 9,000. What is the price elasticity of
demand? The price elasticity of demand is :
9,000 – 10,000 600 + 800
Ep = x = - 0.37
600 – 800 9,000 +10,000
22. End Use Method
Suitable for estimating the demand for intermediate products, the end use method, also
referred to as the consumption coefficient method, involves the following steps:
1. Identify the possible uses of the product.
2. Define the consumption coefficient of the product for various uses.
3. Project the output levels for the consuming industries.
4. Derive the demand for the product.
Project Demand for Indchem
This method may be illustrated with an example. A certain industrial chemical, Indchem
is used by four industries Alpha, Beta, Gamma, and Kappa.
The consumption coefficients for these industries, the projected output levels for these
industries for the year X, and the projected demand for Indchem as shown in the
following slide.
23. Consumption
Coefficient *
Projected Output
in year X
Projected Demand for
Indchem in year X
Alpha 2.0 10,000 20,000
Beta 1.2 15,000 18,000
Kappa 0.8 20,000 16,000
Gamma 0.5 30,000 15,000
Total 69,000
* This is expressed in tonnes of Indchem required per unit of output of the consuming
industry
24. Bass Diffusion Model - 1
Developed by Frank Bass, the Bass diffusion model seeks to estimate the pattern of
sales growth for new products, in terms of two factors:
p : The coefficient of innovation. It reflects the likelihood that a potential customer
would adopt the product because of its innovative features.
q : The coefficient of imitation. It reflects the tendency of a potential customer to
buy the product because many others have bought it. It can be regarded as a
network effect.
According to a linear approximation of the model:
nt = pN + ( q – p ) Nt-1 + ( q / N ) x ( Nt-1 )2
where nt, is the sales in period t, p is the coefficient of innovation, N is the potential size
of the market, q is the coefficient of imitation, and Nt is the accumulative sales made
until period.
25. Bass Diffusion Model - 2
A new product has a potential market size of 1,000,000. There is an older product that
is similar to the new product. p = 0.030 and q = 0.080 describe the industry sales of
this older product. The sales trend of the new product is expected to be similar to the
older product.
Applying the Bass diffusion model, we get the following estimates of sales in year 1
and year 2.
0.080
n1 = 0.03 x 1,000,000 + (0.08 – 0.03) x + x 02 = 30,000
1,000,000
n2 = 0.03 x 1,000,000 + (0.08 – 0.03) x 30,000 + (0.08 / 1,000,000) x (30,000)2
= 31,572
26. Leading Indicator Method
Leading indicators are variables which change ahead of other variables, the
lagging variables. Hence, observed changes in leading indicators may be used
to predict the changes in lagging variables. For example, the change in the level
of urbanisation ( a leading indicator) may be used to predict the change in the
demand for air conditioners (a lagging variable)
Two basic steps are involved in using the leading indicator method: (i)
First, identify the appropriate leading indicator(s).(ii) Second, establish the
relationship between the leading indicator(s) and the variable to be forecast.
The principal merit of this method is that it does not require a forecast of
an explanatory variable. Its limitations are that it may be difficult to find
appropriate leading indicator(s) and the lead-lag relationship may not be stable
over time.
27. Econometric Method
An econometric model is a mathematical representation of economic
relationship(s) derived from economic theory. The primary objective
of econometric analysis is to forecast the future behaviour of the
economic variables incorporated in the model.
Two types of econometric models are employed: the single equation
model and the simultaneous equation model
28. Single Equation Model
The single equation model assumes that one variable, the dependent
variable (also referred to as the explained variable), is influenced by one
or more independent variables (also referred to as the explanatory
variables). In other words, one-way causality is postulated. An example
of the single equation model is given below:
Dt = a0 + a1 Pt + a2 Nt (4.11)
where Dt = demand for a certain product in year t
Pt = price for the product in year t
Nt = income in year t
29. Simultaneous Equation Model
The simultaneous equation model portrays economic relationships in
terms of two or more equations. Consider a highly simplified three-
equation econometric model of Indian economy.
GNPt = Gt + It + Ct (4.12)
It = a0 + a1 GNPt (4.13)
Ct = b0 + b1 GNP1 (4.14)
where GNPt = gross national product for year t
Gt = governmental purchases for year t
It = gross investment for year t
Ct = consumption for year t
30. Improving Forecasts
You can improve forecasts by following some simple guidelines:
• Check assumptions
• Stress fundamentals
• Beware of history
• Watch out for euphoria
• Don’t be dazzled by technology
• Stay flexible
31. Uncertainties in Demand Forecasting
Demand forecasts are subject to error and uncertainty which arise from
three principal sources:
• Data about past and present market
• Methods of forecasting
• Environmental change
32. Coping with Uncertainties
Given the uncertainties in demand forecasting, adequate efforts, along the
following lines, may be made to cope with uncertainties.
Conduct analysis with data based on uniform and standard definitions.
In identifying trends, coefficients, and relationships, ignore the abnormal or out-of-
the- ordinary observations.
Critically evaluate the assumptions of the forecasting methods and choose a method
which is appropriate to the situation.
Adjust the projections derived from quantitative analysis in the light of
unquantifiable, but significant, influences.
Monitor the environment imaginatively to identify important changes.
Consider likely alternative scenarios and their impact on market and competition.
Conduct sensitivity analysis to assess the impact on the size of demand for
unfavourable and favourable variations of the determining factors from their most
likely levels.
33. Market Planning
A marketing plan usually has the following components:
• Current marketing situation
• Opportunity and issue analysis
• Objectives
• Marketing strategy
• Action programme
34. SUMMARY
Given the importance of market and demand analysis, it should be carried out in an
orderly and systematic manner. The key steps in such analysis are (i) situational
analysis and specification of objectives, (ii) collection of secondary information,
(iii) conduct of market survey, (iv) characterisation of the market, (v) demand
forecasting and (vi) market planning.
The project analyst may do an informal situational analysis which in turn may
provide the basis for a formal study.
For purposes of market study, information may be obtained from secondary and /or
primary sources.
Secondary information is information that has been gathered in some other context
and is already available. While secondary information is available economically, its
reliability, accuracy, and relevance for the purpose under consideration must be
carefully examined.
Secondary information, though useful, often does not provide a comprehensive
basis for market and demand analysis. It needs to be supplemented with primary
information gathered through a market survey, specific to the project being
appraised, that is likely to be a sample survey.
35. Typically, a sample survey consists of the following steps: (i) Define the target
population (ii) Select the sampling schemes and sample size. (iii) Develop the
questionnaire. (iv) Scrutinise the information gathered. (vii) Analyse and interpret
the information.
Based on the information gathered from secondary sources and through market
survey, the market for the product/service may be described in terms of the
following: effective demand in the past and present; breakdown of demand; price;
methods of distribution and sales promotion; consumers; supply and competition;
and government policy.
After gathering information about various aspects of the market and demand from
primary and secondary sources, an attempt may be made to estimate future demand.
A wide range of forecasting methods is available to the market analyst. These may
be divided into three broad categories, viz., qualitative methods, time series
projection methods, and causal methods.
Qualitative methods rely essentially on the judgment of experts to translate
qualitative information into quantitative estimates. The important qualitative
methods are : Jury of executive method and Delphi method.
36. Causal methods seek to develop forecasts on the basis of cause-effect relationships
specified in an explicit, quantitative manner. The important causal methods are:
chain ratio method, consumption level method, end use method, leading indicator
method, and econometric method.
To enable the product to reach a desired level of market penetration, a suitable
marketing plan, covering pricing, distribution, promotion, and service, needs to be
developed.