250 words + reference

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

In your response, include an example of a business that has suffered from poorly estimating the demand of its products. Evaluate how or why the business made such a mistake.

 To keep our discussion more interesting, please use examples that are not from our textbook.

https://www.khanacademy.org/economics-finance-domain/microeconomics/elasticity-tutorial/price-elasticity-tutorial/v/more-on-elasticity-of-demand