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Definition

New product forecasting models are used to forecast the performance (e.g., trial, repeat, sales, share) of new products and services and include three major types of models: those based on management subjective estimates; those based on analogy to a similar product that had been previously introduced to the market; and those based on consumer studies.[1]

References

  1. ^ American Marketing Association. Dictionary. <https://www.ama.org/resources/Pages/Dictionary.aspx> (cited 27 May 2015).

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