When Harold Hansen was marketing manager at Creative Concepts Manufacturing Company,he estimated the company would sell a total of 500,000 of their new sandstone coasters decorated with Native American petroglyphs the first year on the market although the company had never before produced a product like that.What is this type of estimate called?
A)a buildup forecast
B)a direct forecast
C)a lost-horse forecast
D)a Delphi forecast

Question

Quizplus · Accepted Answer

This type of estimate is referred to as a direct forecast, which is based on the opinions of experts or past sales data. Harold Hansen used his experience as a marketing manager to make an educated guess about the product's potential sales.

When Harold Hansen Was Marketing Manager at Creative Concepts Manufacturing