Refer to Scenario 5.1. In calculating the sales forecast for the next year, marketers at Lil' Angels use data from the past five years in order to identify any trends that surface. Additionally, marketers want to find out what family variables relate to those sales. Which of the following variables should the marketers use in relating to sales? What type of forecast method will they be using to relate the variables to sales trends?
A) behavioristic; time series analysis
B) psychographic; time series analysis
C) demographic; regression analysis
D) income; regression analysis
E) family life cycle; market tests

Question

Quizplus · Accepted Answer

The marketers should use demographic variables (such as age, gender, income, education, etc.) in relating to sales. They will be using regression analysis to statistically determine the relationship between the demographic variables and sales trends.