Question
Why is knowing (or estimating) the product demand so crucial for a firm? What are the differences between estimating and forecasting demand? In your response,
Why is knowing (or estimating) the product demand so crucial for a firm? What are the differences between estimating and forecasting demand? In your response, include an example of a business that has suffered from poorly forecasting the demand of its products. Evaluate how or why the business made such a mistake.
Provide references
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Economics
Authors: Roger A. Arnold
12th edition
978-1305758674, 1305758676, 978-1285738321
