The First Step in the Forecasting Game Plan Is to Project

question 7

Essay

The first step in the forecasting game plan is to project sales and other operating activities.Sales numbers are determined by both a volume component and price component.Projecting prices depends on factors specific to the firm and its industry that might affect demand and price elasticity.For the following types of firms,discuss whether it would be likely that the firm would be able to raise future prices:
a.A firm in a capital-intensive industry that is expected to operate near capacity for the near future.
b.A firm in an industry that is expected to experience numerous technological improvements.
c.A firm with products that are transitioning from the growth to maturity phase of the product life cycle.
d.A firm that has established a well-known brand name and image.

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Definitions:

Arrhythmia

An irregular heartbeat pattern, which can be too slow, too fast, or erratic, affecting how effectively the heart pumps blood.

Idiopathic Hypertension

High blood pressure of unknown cause.

Tachycardia

A condition characterized by an abnormally fast heart rate, typically defined as a resting heart rate over 100 beats per minute.

Arrhythmia

An irregular heartbeat, which can be too fast, too slow, or with an irregular rhythm.