Prelaunch sales forecasting of a new industrial product

This paper presents a quantitative approach that aims principally at forecasting sales of a new entrant, before the actual launching of its brand name, in a competitive market of a recently introduced industrial product. The research offers ways of operationalizing existing first purchase and repeat purchase models together with an entry market share model to actual limited historical data about the diffusion process in a case study. The approach should help a firm in taking a sound strategic decision as to whether or not to enter a new business in the field of industrial products.

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