Consumer market data can be misleading when used to forecast. Some of the data might have been exaggerated or misused. Consumer market data at times do not take into consideration external factors that are likely to affect the projections. From the article, the level of actual sales for hybrid gas-electric was below the projected volume despite initial criticism by corporation forecasters that the forecast sold the hybrids so short.
Firms have always forecasted the demand for different consumer and non-consumer products. Previously companies have used various methods like Delphi method, simulated interaction, a jury of executives or prediction market to forecast demand. Such projections despite receiving excessive attention and resources usually fall short of meeting the expectations.
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The buyer's behavior is influenced by several factors that ultimately determine the choice that they will make. Culture is an influence on the consumer behavior. The buyer will also be affected by social factors which include the family, reference groups and roles and status. Personal factors including age, occupation, lifestyle, economic situation, and personality will also affect the buyer
Chris Anderson opinion on the concept of niche marketing and the end of distribution marketing of the 1970s is that the future is blink for those companies that are unable to understand their customer's needs. The author states that companies are unaware of what customers need and they assume that by availing products on the shelves of retail stores, customers will ultimately buy. He recognizes the power of online delivery because the customer is aware of what they want and will only ask for that and nothing more.
The core business of Major league baseball is to develop and nurture baseball players in the US. Baseball is a US game and therefore trying to sell it to other parts of the world might not work. Taking MBL as a product, it is difficult to sell the product to a new market that does not desire. The salesperson might use all techniques to convince the potential buyer, but they will receive an objection. Similarly trying to convince players in other parts of the world to develop an interest in the game might not be possible. The chances are high that despite selling some of the best players, the number of spectators might be too low to attract potential advertisers or sale of sports material.
