Demand Forecasting in Business Economics

Demand forecasting is crucial for predicting future product/service demand based on past patterns and current trends. This method involves objectives determination, task sub-division, demand determinant identification, method selection, data collection, result estimation, and reporting. Various methods such as survey, barometric, collective opinion, market experiment, expert opinion, and statistical methods are utilized. Proper demand forecasting aids businesses in making informed decisions to meet market demands effectively.

• Demand Forecasting
• Business Economics
• Methods
• Importance
• Market Demand

choo Follow

Uploaded on Apr 12, 2025 | 0 Views

Download Presentation

Please find below an Image/Link to download the presentation.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.

You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.

The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.

Presentation Transcript

1. COURSE: B.COM. (HONOURS) PAPER NAME BUSINESS ECONOMICS TOPIC DEMAND FORECASTING YEAR- THIRD SEMESTER-6 SESSION -2019-2020 DATE OF LECTURE: 13/05/2020 PREPARED BY DR. KAMALIKA CHAKRABORTY ASSISTANT PROFESSOR (DEPARTMENT OF ECONOMICS) KHATRA ADIBASI MAHAVIDYALAYA, BANKURA, WEST BENGAL

2. DEMAND FORECASTING Demand Forecasting is the method of predicting the likely demand for a product or service in the future. This prediction is based on past behavior patterns and the continuing trends in the present Importance of Demand Forecasting

3. STEPS IN DEMAND FORECASTING Determination of the objectives Sub-dividing the task Identifying of demand determinants Selection of the method Collection of Data Estimation and interpretation of result Reporting

4. Methods of Demand Forecasting Survey Method Barometric Method Collective Opinion Method Market Experiment Method Expert Opinion Method

5. Methods of Demand Forecasting(Contd.) Statistical Methods

6. Reference https://www.toppr.com/guides/business-economics/theory-of-demand/methods-of-demand-forecasting/

7. Thank you