Essay heading: : Product Economics And Profitability

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Business

 

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June 30, 2006

 

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6 / 1611

 

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There are two major categories of quantitative forecasting methods. The first type uses the past trend of a particular variable to base the future forecast of the variable. As this category of forecasting methods simply uses time series on past data of the variable that is being forecasted, these techniques are called time series methods (Ulrich, et al, 2004)...
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It is also used to identify competing new technology and to forecast sales. Before a new innovative product enters into the market Technology Forecasting is one of several methods used to determine if customers will buy it. The Technology method should always be used in conjunction with other tools to identify prospective customers, prototypes, focus groups, interviews, market testing, internet polls and other tools to get a better understanding of the market...
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