Projecting consumptions of competing products |
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Authors: | Hirohide Hinomoto |
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Institution: | Dr. Hinomoto is on the Staff of the University of Illinois at Urbana-Champaign, USA |
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Abstract: | In this article a practical methodology is proposed to enable the planner to project the consumption levels of competing products. The author argues that the method is best suited for the determination of long-run consumption trends of such products. It is less effective for the forecasting of short-run consumption of products in dynamic markets. The discussion will be particularly pertinent to companies considering production investment with long lead times to commissioning the plant in question. |
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