Silicon Valley serves as a global center for high technology, innovation, and social media. Various cutting-edge companies there produce new ideas, products, services and business models day in and day out. Some outputs are to change the world in the years to come. Using the knowledge learned from this chapter, discuss the ways of forecasting new product/service. What are the challenges?

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One way to forecast new products or services is through the use of trend analysis and market research By analyzing current market trends consumer preferences and emerging technologies businesses can m... View the full answer