Final Project

This is a Final Project will need the Project Introduction, Marketing research, forecasting, Inventory Control, Master Production Schedule, Materials Requirement Planning and Material Budget. Step 1 Apply a survey. Post survey questions with the summarized results. Step 2 Determine percentage of acceptance. According to your survey’s results, determine the proportion of potential customers. This is the proportion of people that answered that they would indeed purchase your product. Step 3. Market research. In your country of residence, conduct a research of the latest population census. This can be categorized by age groups, wealth, gender, etc.

Step 4. Potential demand estimate. Multiply the proportion calculated from the second step by the research in the third step. This will be your product’s potential customer base.

Step 5. Determine the market space. If your product is easy to copy, then assume that 50% of the market will be your customer base due to competition. If it is hard to copy your idea, then assume that 70% of the market will be your own market share. Either value will be multiplied by the value acquired in step 4.

Step 6. Product lifetime. How frequently must your product be purchased again because it is consumed or it has ended its lifetime? Divide the value obtained in step 5 by the product lifetime. This will be your annual demand.

Step 7. Monthly demand. Using the results from your survey, determine what your monthly demand will be. The final result may be constant or varied.