The forecasting time horizon and the forecasting techniques used tend to vary over the life cycle of a product.

Question

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In the introductory stage of a product, short-term forecasting techniques and a short-term time horizon may be used as demand for the product may be uncertain. In the growth stage, medium-term forecasts may be used as the market stabilizes. In the maturity stage, long-term forecasting techniques may be more suitable as demand becomes more predictable. Therefore, the forecasting time horizon and techniques used tend to vary over the life cycle of a product.

The Forecasting Time Horizon and the Forecasting Techniques Used Tend