At a Meeting with Your Fellow Executives at KFC, You're

question 101

Multiple Choice

At a meeting with your fellow executives at KFC, you're discussing introducing a new low-fat grilled chicken nugget option, which is significantly different from the company's usual menu items. The CEO wants to get an accurate sales forecast for the product before giving it the green light. Of the following arguments in favor of using various techniques, which one makes the most sense to you?

• A) Alex suggests surveying potential buyers since the company has access to so many consumers.
• B) Bruce points out that using data from other similar products to conduct a trend analysis would be the least expensive choice.
• C) Taylor recommends getting sales forecasts from store managers, a form of sales force composite, since they're so familiar with KFC customer preferences.
• D) Anya claims that test marketing in a few select cities will provide the most realistic information on actual purchases.

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Definitions:

Per Capita GDP

A measure that expresses a country's Gross Domestic Product divided by its total population, indicating the average economic output per person.

Population

The total number of people living in a specific area or country at a certain time.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of all goods and services produced within a country in a given year, reflecting the actual purchasing power.

Inflation

The uplift in the aggregate price level for goods and services, reducing the efficacy of buying power.