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Home > QFINANCE Dictionary > Definition of demand forecasting

Definition of

demand forecasting


estimation of consumer demand for product or service the activity of estimating the quantity of a product or service that consumers will purchase. Demand forecasting involves techniques including both informal methods such as educated guesses and quantitative methods such as the use of historical sales data or current data from test markets. Demand forecasting may be used in making pricing decisions, in assessing future capacity requirements, or in making decisions on whether to enter a new market.

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Definitions of ’demand forecasting’ and meaning of ’demand forecasting’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’demand forecasting’ and other financial terms with our online QFINANCE Financial Dictionary.

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