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A unified strategy for forecasting of a new product

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Abstract

In the field of new-product forecasting, forecasting by analogy is a well-known technique. In this paper, on the basis of a review of relevant literature, nine desirable characteristics for an analogy-based new-product forecasting technique are purported. Also, a methodology that addresses the purported desirable characteristics for new-product forecasting is proposed. The methodology is demonstrated by considering a total of eleven different items that include consumer durables and information and communication technology (ICT) products and services in India. The proposed methodology offers a unified platform for building an information system that typically involves men and machine.

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Acknowledgments

Authors acknowledge the support extended by Prof. Deepali Singh (Indian Institute of Information Technology and Management, Gwalior) for her valuable suggestions regarding this work. Authors also acknowledge the support extended by JUET, Guna in providing the online academic resources required for conduction of this research. The authors are grateful to the anonymous referees who provided useful comments on this paper.

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Authors and Affiliations

  1. Jaypee University of Engineering & Technology, Raghogarh, Guna, 473226, MP, India

    Prateek Pandey, Shishir Kumar & Sandeep Shrivastava

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  1. Prateek Pandey
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  2. Shishir Kumar
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  3. Sandeep Shrivastava
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Correspondence to Shishir Kumar.

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Pandey, P., Kumar, S. & Shrivastava, S. A unified strategy for forecasting of a new product. Decision 41, 411–424 (2014). https://doi.org/10.1007/s40622-014-0065-x

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  • DOI: https://doi.org/10.1007/s40622-014-0065-x

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