Demand and Forecasting Studies for Existing and New Products

Very few businesses can claim authentically that they really understand what drives their markets, their industries, or their brands. This understanding is inevitable for any business organization if they wish to predict the future, explain the past, or develop the best plan for the future. We typically resort to demand forecasting at the industry level first and then vouch for the inclusion of as much historical data as possible (up to 50 years or more, if available). What are the fundamental drivers of the growth of an industry? For example, if there is a rise in the percentage of tourists coming to India or UP in particular then it can be attributed to the improving law and order situation, but law and order as a variable would stop augmenting the future growth in the number of tourists and other variables would have more impact on the same—so future growth in the tourism industry might slow if other variables are not paid heed to. As another example, one of the major factors in the rapid growth of world population over the past 100 years has been the increasing supply of affordable healthcare facilities and falling cost of food. Both these factors, which probably will constrain world population growth (along with other limits). The great value of demand forecasting is an enhanced ability for a company to see and understand the future, and to make optimal decisions to guide its own destiny.

The product you offer has had rather erratic demand of late and you want to understand the reason behind the same. We undertake a comprehensive study right from the product front to the actual team which is offering the same to your customers to provide an insight into the demand curves and the future requirement trends.