The Marketing Manager for an Established Retailer of Men's Clothing

question 105

Multiple Choice

The marketing manager for an established retailer of men's clothing is developing a sales forecast for the coming year. The manager constructs a graph that shows the dollar sales for each of the previous ten years. He then draws a line on the graph that shows the general upward direction in which sales have moved over the ten-year period. He assumes that this general positive progression will continue into the next year, and uses that as the basis of his forecast. What method of sales forecasting does this manager seems to be using?

• A) Tries to extend past experience into the future.
• B) Provides a historical record of the fluctuations in economic variables.
• C) Relates the company's sales to the factor method and uses several factors together.
• D) Combines the opinions of many key executives in an industry.
• E) None of the above.

Identify and understand the concept of preparedness in psychology.

Comprehend the principles of classical conditioning, including the roles of conditioned and unconditioned stimuli and responses.

Describe the concept and examples of conditioned taste aversions.

Recognize the foundational researchers and their contributions to operant conditioning.

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Definitions:

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a specific period, indicating its efficiency in managing and selling stock.

Liquidity

The ease with which an asset can be converted into cash without significantly affecting its market price.

Days In Inventory

A financial metric that indicates the average number of days a company takes to turn its inventory into sales.

Credit Sales

Sales made by a business where the payment is delayed as per an agreement between the buyer and the seller.