Why is knowing (or estimating) the product demand so crucial for a firm? What ar

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Why is knowing (or estimating) the product demand so crucial for a firm? What ar

Why is knowing (or estimating) the product demand so crucial for a firm? What are the differences between estimating and forecasting demand?
In your response, include an example of a business that has suffered from poorly forecasting the demand of its products. Evaluate how or why the business made such a mistake.

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