A firm launching a new product for which historical data does not exist would likely use which type of forecasting technique?
A) Quantitative
B) Qualitative
C) Qualified
D) Quantified

Question

Quizplus · Accepted Answer

When historical data is unavailable, firms rely on subjective opinions, expert judgments, and other forms of qualitative data to forecast the demand for their new products. Therefore, they would use qualitative forecasting techniques.

A Firm Launching a New Product for Which Historical Data