Inventors Can Predict the Cost and Demand for Their Products by Using This Model

Although it takes a lot of time and effort, in the beginning, stages to create a product you imagined, the work is often well worth it when it sells well to make up for the expenses used to make it and then some. Financial success for entrepreneurs varies, depending on their marketing skills and how useful their product actually is, but most wonder how retailers actually distribute their products.

It is the same question Kris Ferreira, an assistant professor of business administration asked at a presentation at Future Assembly. Every retailer much faces tricky and tactical choices related to product placement, assortment, pricing, and inventory. Ferreira mentions that every single one of those choices would have been simple to make if retailers were made aware of consumer demands we.

She added that the primary issue for her was that she had a lot of uncertainty when it came to…



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