Which of the following is NOT a strategy that can help entrepreneurs arrive at a realistic forecast of demand for their product or service?
A) Talking to customers and intermediaries
B) Using historical analogy with similar products/services
C) Preparing revenue budgets
D) Applying their own knowledge and experience
E) Going into limited production

Question

Which of the following is NOT a strategy that can help entrepreneurs arrive at a realistic forecast of demand for their product or service?
A) Talking to customers   and intermediaries
B) Using historical analogy with similar products/services
C) Preparing revenue budgets
D) Applying their own knowledge and experience
E) Going into limited production

Quizplus · Accepted Answer

Preparing revenue budgets is more about planning how to manage income and expenses rather than forecasting demand for a product or service. Forecasting demand typically involves understanding market needs, customer interests, and potential sales volume, which is different from budgeting activities.

Which of the Following Is NOT a Strategy That Can Help