Question: Topic: Global Market Adaption and Forecasting Demand Before a product is created, the marketer must determine if there is a demand for the product and

Topic: Global Market Adaption and Forecasting Demand

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 & Armstrongs 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?

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