Qualitative Forecasting Techniques Should Be Applied in Situations Where Time

question 10

True/False

Qualitative forecasting techniques should be applied in situations where time series data exists, but where conditions are expected to change.

---

Definitions:

Inventory

The total amount of goods and materials held in stock by a business, warehouse, or store.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, typically comprised of the 4Ps: Product, Price, Place, and Promotion.

Easiest

Pertaining to the use or role of something being the most straightforward, requiring the least effort, difficulty, or complexity.

Promotion

Activities designed to increase the awareness, sales, and market share of a product or service.