Demand forecasting means determining

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This requires studying the market in terms of product description, market description, and demand forecasting. 1) Description of the product or item It means describing the type of product or commodity offered by the project, whether this product is consumer, industrial, or a service, and knowing its characteristics, uses, raw materials used in its manufacture, and other matters related to the shape of the product and the brand. 2) Market description It means the process of describing markets, dividing them into multiple marketing sectors, and determining the extent of acceptance of the product or commodity offered in these marketing sectors.


3) Market identification After describing the market band database and dividing it into sectors, the best market sector is chosen, so that the product or commodity can be introduced into it. 4) the expected demand for products during a specific period of time. This prediction is done through an accurate study that is not based on imagination or expectation. Therefore, prediction differs from estimation, as the latter is a process of anticipating future events based on individual personal judgment, while prediction is a process that requires an accurate study of demand during a specific period of time.


Stage 3: Preparing the marketing mix Determining and preparing the marketing mix is ​​the step that follows market research and demand forecasting. It refers to the set of functions that must be performed to ensure the flow of the product from the source of production to the source of consumption. Marketing mix elements 1) Product preparation This is done by identifying products, services or goods, and delivering them from the place of production to the place of consumption. 2) Product pricing It means calculating the final price of the product, so that it achieves the required sales, taking into account achieving financial profit, in addition to the costs of delivering the product for sale.