Discuss two basic approaches to forecasting market potential and sales. What are the circumstances that would lead a marketer to use one forecasting approach or the other? Is one approach more likely to be used for existing products? Why, or why not?© BrainMass Inc. brainmass.com March 4, 2021, 10:34 pm ad1c9bdddf
The two approached to forecasting are qualitative methods and quantitative methods. Quantitative methods are most frequently used when existing data is available surrounding sales of a product or service and that data can be measured. ...
The solution discusses how two different forecasting approaches can be applied to make decisions regarding marketing strategy.