Important Factors Considered by Sales Forecasters Include All of the Following

question 41

Multiple Choice

Important factors considered by sales forecasters include all of the following except:

• A) marketing research studies
• B) competitors' activities
• C) the desired level of sales
• D) past patterns of sales

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Definitions:

Inelastic

A description of a product's demand when its price elasticity is less than one, indicating that demand is relatively unresponsive to price changes.

Price

The cash amount projected, required, or delivered in settlement for something.

Total Revenue

Total revenue is the total amount of money earned by a firm from the sale of its goods and services before any costs are subtracted.

Demand Schedule

A table that lists the quantities of a good a consumer is willing to purchase at different price levels during a specific time period.