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Trial & Repeat: A Consensus Approach to New Product Forecasting
The most difficult thing in forecasting is to forecast new products because they have no direct history to go by. In this article, I describe an approach to focus consensus team forecasting, called ‘trial and repeat.’ It is used to forecast demand and success indicators for new products. The article explains step-by-step how it works to forecast and how it is used to measure and adjust expectations during the first year of sales. I also describe how I got how he got the approval of senior management as well as of others involved in embedding this model in the process.