b). Explain any FOUR survey methods of demand forecasting. (12 marks)

The four survey methods of demand forecasting are:1. **Surveys**: Surveys involve collecting data from potential customers through questionnaires or interviews. This method helps in understanding customer preferences, buying behavior, and expectations. Surveys can be conducted through various channels such as online platforms, phone calls, or face-to-face interactions.2. **Focus Groups**: Focus groups consist of a small group of individuals who are brought together to discuss a specific topic or product. This method allows for in-depth insights into consumer preferences and opinions. Focus groups provide a platform for participants to share their thoughts, ask questions, and engage in discussions, which can help in understanding market trends and consumer behavior.3. **Customer Panels**: Customer panels are groups of selected customers who provide regular feedback on products, services, or market trends. These panels can be used to track changes in consumer preferences over time and gather insights into emerging trends. By analyzing the data collected from customer panels, businesses can make informed decisions about product development, marketing strategies, and demand forecasting.4. **Sales Force Interviews**: Sales force interviews involve gathering information from sales representatives who interact directly with customers. Sales representatives can provide valuable insights into customer preferences, buying patterns, and market trends. By conducting interviews with sales representatives, businesses can gain a deeper understanding of the market and make more accurate demand forecasts.These survey methods provide valuable insights into consumer behavior and preferences, which can be used to develop accurate demand forecasts. By combining these methods with other forecasting techniques, businesses can enhance the accuracy and reliability of their demand forecasts.