As a Guiding Principle in Demand Forecasting,management Should

question 46

Multiple Choice

As a guiding principle in demand forecasting,management should:

• A)Use all available methods.
• B)Avoid using executive opinion.
• C)Use as many market factors as possible.
• D)Prepare a separate forecast for each product sold by the company.
• E)Do None of these.

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Definitions:

Marketing Mix

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

Technology Use

The use of scientific understanding in practical applications, particularly within industry and daily activities.

Sales

The exchange of a commodity or service for money; the action of selling something.

Human Skill

The ability to work well with others, often considered essential for effective management and team collaboration.