MovieFlix - Advertising and SubscriptionsYear Advertising Expenditure $ 000 Membership Subscriptions2013 51622014 58682015 62662016 65662017 68672018 76722019 77732020 78722021 78782022 84732023 8576 (i) What is the nature of the relationship between advertising expenditure and membership? Explain.ii) Forecast 2024 membership using an alternative method. Clearly explainin the limitations of your selected method.

MovieFlix, a popular streaming service, is interested in forecasting its membership subscriptions…

i) What is the nature of the relationship between advertising expenditure and membership? Explain. ii) Forecast 2024 membership using an alternative method. Clearly explainin the limitations of your selected method.

i) What is the nature of the relationship between advertising expenditure and membership? Explain. ii) Forecast 2024 membership using an alternative method. Clearly explainin the limitations of your selected method.

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter6: Target Markets: Segmentation And Evaluation

Section: Chapter Questions

Problem 17DRQ: Under what conditions might a firm use multiple forecasting methods?

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Question

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MovieFlix - Advertising and Subscriptions

Year	Advertising Expenditure $ 000	Membership Subscriptions
2013	51	62
2014	58	68
2015	62	66
2016	65	66
2017	68	67
2018	76	72
2019	77	73
2020	78	72
2021	78	78
2022	84	73
2023	85	76

(i) What is the nature of the relationship between advertising expenditure and membership? Explain.

ii) Forecast 2024 membership using an alternative method. Clearly explainin the limitations of your selected method.

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Step 2: Determining nature of the relationship between advertising expenditure and membership

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Step 3: Forecast for 2024

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Step 4: Forecasting the value

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