Relying on executive judgment for forecasting may be adequate when
A) levels of marketing efforts put forth by competitors vary considerably.
B) recent events give the executive specific impressions of product demand.
C) product demand is erratic.
D) the executive conducts surveys.
E) the executive has considerable experience and product demand is relatively stable.

Question

Quizplus · Accepted Answer

When the executive has considerable experience and product demand is relatively stable, relying on executive judgment for forecasting may be adequate as the executive can make knowledgeable assumptions based on past experiences and patterns. In other scenarios such as when competitor efforts vary or when demand is erratic, relying solely on executive judgment may not be sufficient and additional data and analysis may be necessary.

Relying on Executive Judgment for Forecasting May Be Adequate When