Question: Before a product is created, the marketer must determine if there is a demand for the product and how much demand, based on customer needs

Before a product is created, the marketer must determine if there is a demand for the product and how much demand, based on customer needs and wants. If sufficient demand does not exist, the company might invest a lot of money in developing a product that no one purchases. Many products have been unsuccessfully launched in the past with insufficient and inaccurate demand forecasting. Based on Smith & Armstrong's data (table 3.3, p. 74), how would you change a food product of your choice for a global consumer? Forecast the demand for the food product you changed above. What type of data would you be looking for, and how would you obtain it? Resources: U.S. Labor Department (2019). Bureau of the Census: International database. https://www.census.gov/data-tools/demo/idb/#/country?YR_ANIM=2021

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