The Forecasting of Demand for New Products

Abstract

The principal aim of the economic reform that is being implemented in our country â increasing the effectiveness of social production â presupposes a painstaking analysis of demand for new products. When indices of the volume of commodities sold, of profit and the level of profitability are pushed into the forefront, the performance of the manufacturing plant depends, to a large extent, on the volume of sales, which is determined by the demand for the commodities produced. This is why of late more and more importance is attached to the proper forecasting of demand for various items and to planning the sale of commodities on this basis. Accordingly, the development of scientific methods for such forecasting becomes an imperative necessity.