Before launching a new line of toys, Toys Inc. used the method of historical analogy to obtain a forecast. In this scenario, Toys Inc.:
A) noted the behavior of its current customers while they use their products.
B) used a panel of experts, whose identities were kept confidential from one another, to respond to a sequence of questionnaires.
C) noted the consumer response to similar previous products to marketing campaigns and used the responses as a basis to predict how the new marketing campaign might fare.
D) used a brainstorming session among a group of experts to draw new ideas.

Question

Quizplus · Accepted Answer

Historical analogy involves looking at past events or situations to predict how a new situation will play out. In this case, Toys Inc. is using the reaction of consumers to previous similar products to predict how the new line of toys will fare in the market.

Before Launching a New Line of Toys, Toys Inc