The Correct Terminology in Demand Forecasting May Be Illustrated by Saying

question 5

Multiple Choice

The correct terminology in demand forecasting may be illustrated by saying that the ______ for snow skis in the Midwest next year is 800,000 pairs,while the ______ for Head (brand) skis in that market is 100,000.

• A)Market potential - sales potential (market share).
• B)Sales potential - sales forecast.
• C)Market share - sales potential.
• D)Sales forecast - market potential.
• E)None of these is correct.

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Definitions:

Price Increase

A rise in the cost of goods or services over a period of time, often affecting the purchasing power.

Cheese

A dairy product derived from milk that is produced in a wide range of flavors, textures, and forms by coagulating the milk protein casein.

Substitutes

Products or services that can replace each other in use, causing the demand for one to increase when the price of the other rises.

Complements

Goods or services that are used together with another, such that the demand for one increases when the price of the other decreases.