Which of the following is True of the forecasting approach for staple merchandise categories?
A) Buyers need to find out what customers are going to want in the future.
B) Forecasts are typically based on extrapolating historical sales.
C) Buyers for these categories rely heavily upon forecast services.
D) Buyers for these categories conduct focus group studies to find out consumers' opinions.
E) Buyers for these categories depend upon category sales forecasts which vendors provide.

Question

Quizplus · Accepted Answer

The sales of staple merchandise are relatively constant from year to year. Thus, forecasts are typically based on extrapolating historical sales.

Which of the Following Is True of the Forecasting Approach