Business market managers would like to know which market segments will have the largest growth in total market demand over some time horizon of interest, such as the next year, three years, or five years
Barnett describes the four basic steps needed in any forecast of total market demand. What are the four steps?
The four basic steps needed in any forecast of total market demand are:
1, Define the market.
2, Divide total industry demand into its main components.
3, Forecast the drivers of demand in each segment and project how they are likely
to change.
4, Conduct sensitivity analyses to understand the most critical assumptions and to
gauge risks to the baseline forecast.
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