Forecasting in Business Management

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As a marketing analyst, you are responsible for estimating the level of sales associated with different marketing mix allocation scenarios. You have historical sales data, as well as promotional response data, for each of the elements of the marketing mix. State the differences between the forecasting methods that can be used. Which one would you use and why? If you make any assumptions, state them explicitly.

Justify your answers with examples and reasoning in apa format with cited references.

 

In general, short-term forecasts are more accurate than long-term forecasts, as are forecasts where cyclical or seasonal factors are fairly well defined and repeatable. Describe the factors that influence the reliability of time-series forecasts. Under what circumstances would a time-series model offer a fairly reliable forecast?

Justify your answers with examples and reasoning in apa format with cited references.

 

 

 

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