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    Two Forecasting Approaches

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    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?

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    Solution Preview

    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. ...

    Solution Summary

    The solution discusses how two different forecasting approaches can be applied to make decisions regarding marketing strategy.