Relying on Field Sales Personnel to Provide Estimates of Customer

question 117

Multiple Choice

Relying on field sales personnel to provide estimates of customer needs is referred to as which type of qualitative forecasting technique?

• A) Consumer surveys
• B) Delphi method
• C) Jury of executive opinion
• D) Sale force estimates

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Definitions:

Price Ceiling

A legal maximum price that can be charged for a particular good or service, aiming to keep prices affordable.

Equilibrium Price

The price at which the quantity of goods supplied is equal to the quantity of goods demanded in the market.

Supply and Demand

The basic economic principle that determines the price of goods and services in a market, based on the quantity available (supply) and the desire of consumers to purchase (demand).

Demand Curve

A visual model that illustrates the link between the cost of a commodity and the volume of demand from buyers at those costs.