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estimating the product demand

Why is knowing or estimating the product demand so crucial for a firm?

Include an example of a business that has suffered from poorly estimating the demand of its products. Evaluate how or why the business made such a mistake.

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It is important to know or estimate the product demand accurately because it helps the firm to plan for the demand in advance and modify its manufacturing plan accordingly, so that the firm is not only able to exploit on the growth opportunities due to higher demand effectively and not lose out on such opportunities due to shortage in supply, but is ...

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Why is knowing or estimating the product demand so crucial for a firm?

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