New World Releases is conducting a business analysis to determine which of the many new songs available to management should be released. Sales must be estimated before costs can be estimated. Which of the following did your text recommend for forecasting sales?
A)considering the history of market opinions
B)conducting surveys of competitors
C)considering the sales history of similar products and conducting surveys of market opinions
D)applying the PLC concept
E)none of the above

Question

Quizplus · Accepted Answer

The text recommends considering the sales history of similar products and conducting surveys of market opinions as the best approach for forecasting sales. This approach involves analyzing the performance of similar products in the market and gathering feedback from potential customers to estimate the demand for the new song. It combines both historical data and customer feedback, providing a more accurate forecast of sales.

New World Releases Is Conducting a Business Analysis to Determine