How to Forecast New products
In this webinar we will be showing how to forecast new products using various forecasting techniques
Forecasting new products is difficult. With little or no historic data, many traditional forecasting methods just won’t work.
So how do you forecast new products?
In this one-hour webinar, Eric Stellwagen and Sarah Darin will share some insights. They will survey different approaches for effectively forecasting new products and discuss the role of judgment and market research.
What will we be discussing?
Eric and Sarah will review the following classifications for new products and discuss pros and cons of various forecasting methods used for each category:
- Replacement products
- Product line extensions
- New-to-company products
- New-to-world products
Using real-world examples, Eric and Sarah will demonstrate popular methods for new product forecasting including product mapping (aka item supersession), forecasting by analogy, custom component models, assumption-based models and the Bass diffusion model.