Market Forecasting – Woolworths Essay Example

include such questions as ‘What varieties of fruit and vegetable would you like to see stocked in Woolworths during winter? ’, and ‘Would you like to see more exotic fruits stocked in Woolworths and if they were available, would you be likely to purchase them? ’.This survey conducted would allow me insight into what fruits and vegetables consumers would be likely to buy during which seasons, and what fruits and vegetables they would like provided that do not already exist in the store. An essential ingredient in forming my forecast would be monitoring weather patterns for the pertaining year, by means of secondary data listed on the internet on the Bureau of Meteorology.

This insight into future weather patterns would allow me to determine an estimate for the temperature of each month, and thus help me in forecasting fruit and egetables for that month. Weather would be a particularly detrimental element of my research as people are inclined to buy different fruits and vegetables in different weather conditions. For example, if the first two months of autumn were due to be particularly warm, as a result of global warming, then I would forecast an increase in sales of lettuce and salad- type vegetables, as people are more likely to make salads in the warmer weather than to cook their vegetables.In order to create an achievable forecast, it would also be wise for me to gather primary data in the form of checking with my suppliers (farmers) that they would be able to provide the quantity of fruit and vegetable I would require and that it would be up to standard. If not, then I would be

required to research secondary data on the internet to see what countries I could import the required fruit or vegetables from and at what cost.

This information would guide me in concluding a suitable and realistic forecast for the fruit and vegetables to be provided in Woolworths is the pertaining year.