[Solved] Chris Peterson Is a Retail Sales Manager

The factor method A) is something (past sales, industry sales, etc.) times some factor equals sales forecast. B) is a simple extension of past sales. C) is typically limited to just one factor. D) assumes past conditions will continue unchanged into the future. E) does not include variables such as population, income, and sales in a market.

A marketing manager who uses SALES AND MARKETING MANAGEMENT'S "Buying Power Index" (BPI) to forecast sales is using the: A) factor method (using several factors). B) NAICS code method. C) factor method (using one factor). D) trend management method. E) substitute method.

SALES & MARKETING MANAGEMENT'S "Buying Power Index" (BPI) reflects each geographic market's share of total U.S.: A) population. B) income. C) retail sales. D) All of the above. E) Only A and C above.

Sales & Marketing Management magazine's "Buying Power Index" is based on: A) each market's share of the total U.S. population. B) each market's share of the total income in the United States. C) each market's share of the total retail sales in the United States. D) All of the above. E) Only A and B above.

Tammy Patterson is the sales rep for an area with a "Buying Power Index" (BPI) of 0.4500. If her firm's national sales forecast is $30,000,000, calculate a "reasonable" sales forecast for Tammy's area. A) $900,000 B) $90,000 C) $666,666 D) $135,000 E) $1,350,000

In the "jury of executive opinion" method of forecasting: A) the main advantage is that its results are always very good. B) each executive projects future trends, but does no extending of the past. C) forecasters develop a combination of factors. D) the combined opinions of experienced executives are used to reach a consensus. E) none of the above.

The "jury-of-executive-opinion" approach to sales forecasting combines the opinions of experienced executives from: A) sales. B) purchasing. C) marketing. D) finance. E) any or all of the above.

The "jury-of-executive-opinion" approach to sales forecasting A) is less accurate than trend extension. B) can be done quickly. C) is effective even if the individual executives aren't very well informed. D) B and C are true. E) All of the above are true.

The "jury-of-executive-opinion" sales forecasting approach has an advantage in that: A) executives usually have excellent knowledge about all the outside market forces that may impact demand. B) no other quantitative estimates are necessary. C) a forecast can be obtained quickly and easily. D) past trends are usually ignored. E) trend extension is minimized.

AgriGrow, Inc. is an agricultural research firm that develops and markets seeds for fast-growth crops. This product-market is in the growth stage of the product life cycle--and sales depend not only on the right marketing mix but also on a variety of other concerns such as competitors' new products, the weather, and ever-changing Federal farm subsidy programs. The AgriGrow marketing manager wants to develop a sales forecast, and in this situation A) trend extension approaches are likely to yield the most accurate forecast. B) NAICS codes can be used as factors. C) the Survey of Buying Power (and the buying power index) should work well. D) a jury of executive opinion is probably the best bet. E) none of the above.