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21 July, 20:59

Bass new product forecasting model is used for estimating long term sales potential of a product True False

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  1. 21 July, 21:22
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    True

    Explanation:

    The Bass New forecasting model is a forecasting model that is commonly used to estimate the sales of a product at a certain in future and it is used for highly durable goods.

    The bass new forecasting model wad developed by Frank Bass and it has a formula

    f (t) = p + qF (t)

    1 - f (t)

    where:

    f (t) is the change of the installed base fraction

    F (t) is the installed base fraction

    p is the coefficient of innovation

    q is the coefficient of imitation

    Cheers.
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