Beruflich Dokumente
Kultur Dokumente
Cont.
Nature of product.
Types of consumer-
Age.
Sex. income of the consumers.
Attitude.
Preferences. Tastes.
Habits.
Urban. Rural.
Local.
National. International or Global.
Sales Promotion.
Discounts.
Window display.
Primary Data: Primary data or information are original in character which are collected for the first time for the purpose of
Secondary Data
Secondary data or information are those which are
obtained from someone elses records. These Data are already in existence in the recorded or published forms. Secondary Data are like finished products since they have been processed statistically in some form or the other.
Governments.
1) 2) 3) 4) 5) 6)
Plan documents. census of India. Statistical Abstracts of the Indian Union. Annual Survey of Industries. Annual bulletin of Statistical of Exports and Imports. monthly studies of production of selected Industries.
7)
1)
2)
3)
4)
1)
2)
3)
1)
2)
3)
1)
Universities.
2)
Associations. etc.
Unpublished Data
1)
Sales. Profits.etc.
secondary data should not be taken at their face value and are never to be used blindly.
One must take a mid-way by combining statistical results with the value
judgment.
Again different statistical forecasting methods are not mutually exclusive. They are to be used in combination for accuracy and cross checking purposes.
For forecasting purposes, it is essential to estimate the structural form and parameters of the demand function empirically.
Time series data refer to data collected over a period of time according historical changes in price, income, and other relevant variables influencing demand for a commodity.
Time series analysis relate to the determination of change in a variables in relation to time. Usually trend projections are important in this regard.
Cross-sectional Data
In time series analysis for instance, for measuring income elasticity of demand, a sales income relationship may be established from the historical data and their fast variations in
Consumption Level Method Trend Projection Method Regression Analysis and Econometric Method
Consumption Level demand may be estimated on the basis of the coefficients of income elasticity and price elasticity of demand.
A time series analysis of sales data over a period of time is considered to serve as a good guide for sales or demand forecasting.
For long-term demand forecasting trend is computed from the time based demand function data.
Trends refers to the long-term persistent movement of data in one direction upward or downward.
A moving average forecast is based on the average of a certain number of most recent periods.
The method of least squares is more scientific as compared to the method of moving averages.
It uses the straight line equation y= a+bx, to fit the trend to the
data.
Most commonly for demand forecasting proposes, the parameters of the demand function are estimated with regression analysis.
In demand regression equations relevant variables have to be included with practical considerations and relevant data have to be obtained.
Examples:
Personal
disposal
income
towards
demand
for
consumer product.
Construction contracts for demand towards building material such as cement, bricks, steel, tiles etc.
Automobile registry over a period towards demand for car spare parts, petrol etc.
Thank you