Question.1195 - Imagine you work for a breakfast cereal company that makes prepared products that are served cold. Your company wants to introduce a new hot breakfast cereal that would require minimal consumer preparation. How would you propose forecasting initial demand for this product? Identify one quantitative and one qualitative technique. How do the techniques complement each other?
Answer Below:
Time xxxxxx forecasting xxxx is x quantitative xxxxxxxxx that x new xxx breakfast xxxxxx would xxxxxxx by xxx consumer xxxxxxxxx to xxx definition xxxx series xxxxxxxxxxx is x technique xxxx predicts xxxxxx data xxxxx on xxxx or xxxxxxxxxx data xxxxxx amp xxxxx In xxxx scenario xxxxx on xxxxxxxxxx data xxxx as xxxxxxxx trends xxxxxxxx preferences xxx we xxx analyze xxxxxx demand xxxxx on xxxx consumption xxxxxxxxx For xxxxxxxx utilizing xxxxx data xxxx other xxx cereal xxxxxxxxxxxxx or xxxxxxx breakfast xxxxx could xxxxx insights xxxx potential xxxxxx fluctuations xxxxxxxxxx the xxxx We xxx estimate xxxxxx demand xxxxx on xxxx consumption xxxxxxxxx by xxxxxxxxx sales xxxxxxx and xxxxxx rates xxxx Market xxxxxxxx is xxx qualitative xxxxxx that xxx be xxxxxxx The xxxxxxxxxxxx data xxxxx depth xxxx understanding xxxxxxxxxxx for xxxxxx convenience xxxxxxxxx and xxxxxxxxx value xxxxxx amp xxxxx For xxxxxxxx market xxxxxxxx conducted xx see xxx people xxxxxxxxx to xxxxxxxxx samples xx surveys xx determine xx people xxxxx be xxxxxxx to xxx a xxx hot xxxxxx might xxxxx important xxxxxxxxxxx information xxxxx possible xxxxxxxxxxxxx and xxxxxxxxx nbsp xxxx ReferencesJacobs x R xxx Chase x B xxxx Operations xxx supply xxxxx management xxxx th xx New xxxx NY xxxxxxxxxxxMore Articles From Operation Management
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