AgriGrow, Inc. is an agricultural research firm that develops and markets seeds for fast-growth crops. This product-market is in the growth stage of the product life cycle--and sales depend not only on the right marketing mix but also on a variety of other concerns such as competitors' new products, the weather, and ever-changing Federal farm subsidy programs. The AgriGrow marketing manager wants to develop a sales forecast, and in this situation
A) trend extension approaches are likely to yield the most accurate forecast.
B) NAICS codes can be used as factors.
C) the Survey of Buying Power (and the buying power index) should work well.
D) a jury of executive opinion is probably the best bet.
E) none of these is a good answer.

Question

Quizplus · Accepted Answer

The marketing manager should use the jury of executive opinion to develop a sales forecast because it uses the combined opinions of experienced executives to reach a consensus. Also, the jury approach can be done quickly and easily.