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What Is the Role of Forecasting in Marketing? How Do

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What is the role of forecasting in marketing? How do we estimate sales potential?


Definitions:

Economic Integration

Occurs when two or more nations join to form a free-trade zone.

Free-Trade Zone

A specific area within a country where goods may be imported, handled, manufactured, or reconfigured without direct intervention by the customs authorities, often to encourage trade and investment.

Acquired Comparative Advantage

An advantage gained by a country or firm through learning, innovation, and investment, as opposed to natural endowments.

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported.

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