A firm wants to develop a sales forecast for its plumbing fixture products by estimating such factors as population, disposable income, replacement demand, and competitive responses to various marketing mixes. This could be done via simulation.

Question

Quizplus · Accepted Answer

Simulation allows for the modeling of complex systems by estimating the impact of various factors, such as population, disposable income, replacement demand, and competitive responses, on outcomes like sales forecasts, making it a suitable method for this task.

A Firm Wants to Develop a Sales Forecast for Its