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Demand Analysis
The process of understanding and forecasting customer demand for products or services.
Implications
The process of assessing and understanding the current and future demand for a product or service, often involving market research, customer surveys, and data analysis to guide production, marketing, and sales strategies.
Example
Example: A consumer electronics company conducts demand analysis to estimate the potential market size for a new smartwatch, using sales data, customer feedback, and competitor analysis.
Related Terms
Different from demand forecasting, which predicts future demand, demand analysis focuses on understanding the factors driving current demand and market potential.
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