Sometimes even the best sales forecasts are inaccurate what steps can manager takes to ease the difficulties encountered when this sales forecasts prove to be incorrect?
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- Under what conditions might a firm use multiple forecasting methods?Both the bottom-up and the top-down approaches can be used to forecast sales. When might you prefer the bottom-up approach? When might you prefer the top-down approach?Is there a difference between forecasting demand and forecasting sales? Can demand be forecast from historical sales data?
- Why is forecasting important to marketsegmentation?Use the guiding questions below to develop recommendations based on the June budget to help the manager of the marketing department • How does the master budget help the manager understand the company’s external environment and the impact the environment have on the marketing department? • How does the budget help the manager with forecasting?In a dynamic and complex world, managers must plan for effective innovation What would be the top factors in managing technology forecasting?
- The following should be considered: Consider if predictive analytics, such as the use of big data, would have succeeded in marketing if it had been used 15 years ago. Is there a reason why this is the case?Assume that this restaurant was one of a chain of 20 restaurants across Greater Sydney with a head office in the CBD. Compare and contrast the Jury of Executive Opinion and the Sales Force Composite Method when it comes to generating business forecasts. You must contextualise your discussion to this case studyWhy is market-share forecasting important to the firm?
- What are the advantages of predictive analytics?Which types of application one can prefer to use Bagging and boosting methods for predictive analytics and how it can be used?Imagine they have been hired as the director of marketing for a minor league baseball team. The team had virtually no records of past ticket buyers other than a list of last year’s season-ticket purchasers. Develop five ways to build the team’s prospect database in the off-season. Please do fast asap