The Purpose of a Market Forecast Is to Estimate Future

question 1

Multiple Choice

The purpose of a market forecast is to estimate future ________.

• A) sales in an industry
• B) budget constraints
• C) sales of a product
• D) market share

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Definitions:

Service-intensive Business

A type of business that relies heavily on providing services rather than goods, characterized by a high level of customer interaction and service delivery.

Vision

A forward-looking statement or concept that outlines what an organization aims to achieve in the future, serving as a guide for its intentions and directions.

Customer Base

The group of consumers who repeatedly purchase the goods or services of a business, forming the foundation of the company's sales.

Capital

Financial assets or the financial value of assets, such as cash and goods, used by a business to fund its operations and investments.