Describe the Long term Demand Forecasting
Describe the Long term Demand Forecasting.
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It forecasting is meant for long period. The significant purpose of long term forecasting is specified below:
1. Planning of expansion of existing or a new unit on the basis of analysis of long term potential of the product demand.
2. Planning long term financial requirements on the basis of long term sales forecasting.
3. Planning of manpower requirements can be made upon the origin of long term sales forecast.
4. To forecast future problems of energy crisis and material supply.
How many types are of price elasticity of demand?
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What are the important areas of decision making?
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What are the external factors in governing prices?
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