Two techniques or decision processes employed for planning and absorbing fluctuations in demand are as follows:- 1. Graphic Technique 2. Linear Programming Method. 1. Graphic Technique: The graphic technique is simple and shows clearly the fluctuations in production demand. However, it simply compares different alternative plans and by itself does not generate optimum plan. Moreover it is a static technique. [...]
After reading this article you will learn about:- 1. Meaning of Demand 2. Components of Demand 3. Company Demand 4. Market Demand 5. Company Potential 6. Market Potential. Meaning of Demand: In evaluating the marketing opportunities, the step is to estimate total market demand. According to Philip Kotler, "Market demand for a product is the total volume that would be [...]
After reading this article we will learn about:- 1. Meaning of Demand Forecasting 2. Importance of Demand Forecasting 3. Demand (Sales) Forecasting Periods 4. Factors Affecting5. Methods of Estimating Future Demand 6. Demand Forecasting of New Products 7. Criteria 8. Procedure. Contents: Meaning of Demand Forecasting Importance of Demand Forecasting Demand (Sales) Forecasting Periods Factors Affecting Demand (Sales) Forecasting Methods [...]