New Methods for Demand Estimation and Correlation with Sales Plan
New Methods for Demand Estimation and Correlation with Sales Plan

Summary/Abstract: One of the most important and often difficult tasks for a manager is estimating demand for its product. Many firms, both small and large, encounter problems in methodically estimating market demand for their products and services. The issue is crucial because realistic sales demand estimation is fundamental for the sales plan. The market variables that will affect demand for the enterprise’s product are grouped into those market variables the manager is likely to know with a high degree of certainty and those the manager is likely to know with less certainty, like consumer demand. In the paper we present the frame model for determining the empirical distribution for the probability of the uncertainty of the demand estimation.

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