GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Market test method
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Past sales analysis
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Expert opinion method
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Composite of sales force opinion
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Detailed explanation-1: -The Delphi Technique is a multistep method used to estimate future demand for a product or service whereby a special group of experts in Risk/Cost/Schedule forecasting exchange views and then each individually submits estimates and assumptions to an analyst who reviews all the data received and issues a summary report.
Detailed explanation-2: -The Delphi method, also known as the estimate-talk-estimate technique (ETE), is a systematic and qualitative method of forecasting by collecting opinions from a group of experts through several rounds of questions.
Detailed explanation-3: -The method relies on the key assumption that forecasts from a group are generally more accurate than those from individuals. The aim of the Delphi method is to construct consensus forecasts from a group of experts in a structured iterative manner. A facilitator is appointed in order to implement and manage the process.