The life cycles analogy technique fits best with which of the following applications?
A) A retailer wants to develop an overall sales forecast for the coming summer season.
B) A cereal manufacturer has to decide how much new plant capacity will be required if it enters a new product category.
C) A parts distribution business needs to create a workforce plan for the remainder of the year.
D) A fishing lure manufacturer has to decide whether to invest in higher-capacity equipment this year to be ready for the next season's demand.

Question

Quizplus · Accepted Answer

Life cycles analogy is prediction based on the introduction, growth, and maturity phases of similar products, and as a qualitative method, is suited for longer time frames such as a new production plant.

The Life Cycles Analogy Technique Fits Best with Which of the Following