chapter  11
20 Pages

WHAT ARE THE RIGHT FORECASTING TOOLS FOR YOU?

The life cycle of a typical new product has four major stages: introduction, growth, maturity, and saturation (decline). The proper choice of forecasting methodology depends on where the market is. Figure 11.1 shows the effects of product life cycle on forecasting methodologies. Table 11.1 summarizes the forecasting methods that have been discussed in this book, in the following sequence: