Which of the following sales forecasting techniques would generally be most suitable for estimating sales of a new product?
A) Executive judgment
B) Customer surveys
C) Time series analysis
D) Market tests
E) Regression methods

Question

Quizplus · Accepted Answer

Market tests are the most suitable technique for estimating sales of a new product as it involves introducing the product in a limited market and analyzing its sales performance. This provides valuable information about customer demand, product acceptance, and potential sales volume. Other techniques such as executive judgment, customer surveys, and time series analysis rely on past data and may not accurately reflect the demand for a new product. Regression methods may be useful in combination with market testing to identify the factors that influence sales.

Which of the Following Sales Forecasting Techniques Would Generally Be