from strategies-for-uncertainty.com
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:
- those based on management subjective estimates;
- those based on analogy to a similar product that had been previously introduced to the market; and
- those based on consumer studies.[1]
References
- ^ American Marketing Association, AMA Dictionary