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Methods of Forecasting
The various methods of forecasting demand may be grouped under the followings categories:
Opinion Polling Method: In this method the opinion of the buyers sales forces and expert could be gathered to determine the emerging trend in the market.
Warehousing Facilities: These should be expanded in important commercial centres abroad, specially for fast-moving consumer goods. Nowadays, foreign buyers are reluctant to keep
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use the concept of the income elasticity of demand to explain the difference necessities, luxuries and inferior goods
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