A firm has just developed a unique new product that can easily be copied by a competitor.They want to determine how many units to produce.The forecasting method they will most likely use is the
A)Survey of Sales Forces.
B)Delphi Method.
C)Historical Analogy.
D)Survey of Customers.
E)Market Research.

Question

Quizplus · Accepted Answer

The Delphi Method is a forecasting technique that involves gathering expert opinions on a topic through a series of questionnaires and feedback. In this case, the firm can gather opinions from industry experts on how likely a competitor is to copy their product and how soon it might happen. This information can then be used to estimate demand for their product and determine how many units to produce. The Delphi Method is particularly useful in situations where there is a high level of uncertainty and multiple factors that need to be considered.

A Firm Has Just Developed a Unique New Product That