**Product Selection:** Choose a product that interests you. This could range from a technological gadget, a type of clothing, a food item, to any other consumer good. 2. **Demand Components Identification:** List and discuss at least five components that you believe significantly influence the demand for your chosen product. Provide a brief explanation for each component, detailing how it affects demand either positively or negatively. 3. **Forecasting Data Points:** For each of the components listed in step 2, identify specific data points that would be required if you were to employ a quantitative forecasting model to predict demand for the product in question. Ensure to justify why each data point is crucial for the forecasting process