Explain the approaches that can be used to forecast demand
What will be an ideal response?
a. Product use tests – the purposes of a product test are to uncover product shortcomings, evaluate commercial prospects, evaluate alternative formulations, uncover the appeal of the product to various market segments, and, ideally, gain ideas for other elements of the marketing program.
b. Market tests – the purposes of market tests are to predict sales and profits from the prospective new product launch and to practice so that marketing, distribution, and production skills are developed before full-scale operations begin.
c. Sales forecasting – forecasting sales for a new product or service before it is launched and while going through the new product development process is always difficult. Marketing managers must rely on purchase intention surveys or other qualitative methods of forecasting.
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Explain the role of accountants in the conceptual design stage
Prepaid incentives have been shown to increase response rates to a greater extent than promised incentives
Indicate whether the statement is true or false
Consumers who feel that it's not worth the effort to consider any brands competing with their favorite brands are ________
A) lacking any evaluative criteria B) involved in extended problem solving C) unlikely to have cognitive dissonance D) brand loyal E) brand indifferent
What type of company is DM Yard Services? Briefly describe the characteristics of a sole-proprietorship, a limited-liability company, and a corporation; specifically address the equity section of the balance sheet for each.
What will be an ideal response?