William, owner of a small hardware store, likes to forecast sales to better prepare for seasonal fluctuations. He identifies as many target markets as possible and predicts the sales for each based on one-day sales at different times of the year. He then combines the predictions for the various segments to create a total sales forecast. Which sales forecasting method is William using?

Question

Quizplus · Accepted Answer

William is using the build-up method by identifying various target markets and predicting sales for each, then combining these predictions to create a total sales forecast. This method involves building up the total sales forecast from the sum of its parts.

William, Owner of a Small Hardware Store, Likes to Forecast