New Product Forecasting: Techniques and How to Identify a Similar Product

New Product Forecasting Webinar

New Product Forecasting: Techniques and How to Identify a Similar Product

Details

All businesses introduce new products for various reasons. The new products pose a challenge for the planners and marketing executives to estimate the demand for them for merchandise and supply planning purposes. 

The primary reason being the lack of historical data that can be used for forecasting. 

This webinar address this challenge by discussing concepts and techniques available for forecasting demand for new products. 

These techniques are ‘By Analogy’ and ‘Bass Diffusion’ including a live demonstration using planning software.

While Analogy is the more popular technique, the issue most planners face in this technique is in choosing the right similar product. The webinar also discusses the technique that can be deployed to help pick the right similar product to assist in this technique. 

What will you learn?

– Identify similar products for a new launch.

– Map seasonality for new products.

At the end of the webinar, you will learn about different techniques of new product forecasting and how to identify a similar product in case of forecasting by analogy. 

 

Duration : 60 mins

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