ENTREPRENEURIAL OPPORTUNITIES
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not included in marketing?
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Identifying wants/needs of consumers
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Understanding competitors’ threats
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Telling customers about products & persuading to buy
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Developing forecasts to determine sales for the month
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Explanation:
Detailed explanation-1: -Sales forecasts are usually based on historical data, industry trends, and the status of the current sales pipeline. Businesses use the sales forecast to estimate weekly, monthly, quarterly, and annual sales totals.
Detailed explanation-2: -While there are a wide range of frequently used quantitative budget forecasting tools, in this article we focus on four main methods: (1) straight-line, (2) moving average, (3) simple linear regression and (4) multiple linear regression.
Detailed explanation-3: -Some of the most common factors affecting sales, and thus should be taken into account when creating the forecast include: Marketing spend. Budget allocation. Economic conditions.
There is 1 question to complete.