Why Do Marketers in Most Industries Have Difficulty Making Estimates

question 2

Multiple Choice

Why do marketers in most industries have difficulty making estimates and predictions beyond five years?

• A) The elected members hold the office for five years which stabilizes political and legal environment only for five years.
• B) There are many uncertainties in the marketplace.
• C) The margin for error in long-term forecasting is very small.
• D) The cost involved limits predictions beyond five years.

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Definitions:

Staples

Basic or essential food products or materials that are widely used and in regular demand.

Standard Oil Trust

An American oil-producing, transporting, refining, and marketing company established by John D. Rockefeller and partners in the late 19th century, noted for its historical monopoly and eventual breakup.

Supreme Court

The highest judicial court in a country or state, which typically has the ultimate authority over all other courts.

Multinational Corporation

A corporation doing business in more than one country; often it owns production facilities in at least one country and sells in many countries.