New Product Forecasting Model

Definition

New product forecasting models are used to forecast the performance (e.g., trial, repeat, sales, share) of new products and services and include three major types of models:

  1. those based on management subjective estimates;
  2. those based on analogy to a similar product that had been previously introduced to the market; and
  3. those based on consumer studies.[1]

 

References

  1. ^ American Marketing Association, AMA Dictionary

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