A team of analysts at Amazon is researching the viability of producing a smart watch. How might they estimate potential demand for their smart watch

Question

04-06-2021
Business

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A team of analysts at Amazon is researching the viability of producing a smart watch. How might they estimate potential demand for their smart watch

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AbsorbingMan AbsorbingMan · Answer 1 · 2021-06-06T22:45:22-04:00

Solution :

It is given that an analyst team at Amazon is researching the feasibility and the viability of manufacturing a smart watch.

The analyst team must carry out few steps in order to estimate the potential demand for the smart watch. They should begin with customer survey to know for the demand of the watch. Then the team find the total quantity of the product that is demanded by the customers, the third step is to scale the quantities demanded by the survey respondents. The final step is the team should plot and make the demand curve for the watch in the market.

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