Errors in the Sales Forecast Can Be Offset by Similar

question 25

True/False

Errors in the sales forecast can be offset by similar errors in costs and income forecasts.Thus,as long as the errors are not large,sales forecast accuracy is not critical to the firm.

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Definitions:

Buy-Class Situation

Refers to the classification of purchasing situations into categories based on the degree of effort and time invested, such as new buys, straight re-buys, and modified re-buys.

Buying Center Tendencies

Patterns or habitual behaviors of a buying center, which is a group of individuals within an organization that make decisions about significant purchases.

Minor Modification

Small adjustments or changes made to a product or service to enhance its appeal or functionality without overhauling its core attributes.

Buy Classes

Consist of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy.