The Consumer Survey Method is a technique of demand forecasting that involves directly interviewing potential customers. There are three common approaches to this method:
Complete Enumeration Method: The forecaster contacts almost all the potential users of the product or service and asks them about their future purchasing plans. Then, the forecaster adds up all the quantities given by the consumers to determine the probable demand for that product or service.
Sample Survey: This is used when the target population being studied is large, so only a sample of potential customers is interviewed. This sample is surveyed directly or via email.
End-use method: This determines the demand for inputs. The forecaster creates a schedule of probable aggregate future demand for inputs by various industries, taking into account the variations in technological, structural, and other factors that influence the demand. This method helps calculate the future demand for an industrial product in extensive detail by type and size, and helps the forecaster pinpoint causes of any future deviations from the estimated demand.
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