Identify the Primary Limitation of All Forecasting Techniques

question 25

Multiple Choice

Identify the primary limitation of all forecasting techniques.

• A)They are qualitative in nature.
• B)They tend to give biased estimates.
• C)They rely on managerial intuition and judgment.
• D)They rely on historical patterns and activity levels.

Describe the role of conflict theory in understanding culture.

Identify differences between folkways and mores in cultures.

Describe the stages of culture shock.

Recognize the diversity of languages in the world and their significance.

---

Definitions:

First Purchase

The initial act of buying a product or service by a customer, often seen as a critical step in building customer loyalty and repeat business.

Promotion-to-Sales Ratio

A metric comparing the amount spent on marketing and promotion to the total sales revenue generated, often used to assess marketing efficiency.

Total Promotion Expenditures

The aggregate amount of money a company spends on all promotional activities, including advertising, sales promotions, public relations, and personal selling, over a set period.

Marketing Costs

Expenses related to promoting and selling a product or service, including advertising, market research, and distribution.