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They are appropriate when past data are unavailable

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• Strengthens and weaknesses of products or brands

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• Understanding motive force of purchase decision dynamics

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• Studying emotions and attitudes on societal and public affairs issues

qrca.org

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The expected sales can be calculated as follows: ES = (nR/nSyfN

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of households reporting demand for the product nS = No

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A team of high level managers meet and collectively build a forecast

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But, there is a drawback in this method

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QUALITATIVE FORECASTING METHODS Qualitative forecasting methods are subjective, based

on the executive opinions, sales staff

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estimates, while survey of experts, which is also known as Delphi method is used for

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Situations where qualitative forecasting method is often used: • New product idea generation and

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Regression analysis QUALITATIVE METHODS Consumer Surveys Executive Opinions Sales

Staff Opinions Delphi MethodCONSUMER SURVEYS Some

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Surveys may consist of telephone contacts, personal interviews, or questionnaire as a means of

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In this technique, either the sampling method or the census method can be used

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number of households EXECUTIVE OPINIONS The forecasting is done quickly and easily, without

need of

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The opinion of one member might prevail and because of this there are less

QUALITATIVE FORECASTING METHODS Qualitative forecasting methods are subjective, based

on the executive opinions, sales staff opinions, consumer surveys and survey of the experts. They

are appropriate when past data are unavailable. Consumer surveys, sales staff opinions and

executive opinion can be used to obtain quick estimates, while survey of experts, which is also

known as Delphi method is used for long range predictions. Situations where qualitative

forecasting method is often used: • New product idea generation and development. • Strengthens

and weaknesses of products or brands. • Understanding motive force of purchase decision

dynamics. • Studying emotions and attitudes on societal and public affairs issues. FORECASTING

TECHNIQUES QUANTITATIVE METHODS TIME SERIES ANALYSIS SMOOTHING

TECHNIQUES *Moving average method *Weighted moving average method *Exponential

smoothing method TREND ANALYSIS *Graphic method *Linear regression *Non-linear regression

CAUSAL APPROACH *Regression analysis QUALITATIVE METHODS *Consumer Surveys

*Executive Opinions *Sales Staff Opinions *Delphi MethodCONSUMER SURVEYS Some

companies conduct their own market surveys regarding specific consumer purchases. Surveys

may consist of telephone contacts, personal interviews, or questionnaire as a means of obtaining

data. In this technique, either the sampling method or the census method can be used to survey

the customers. The expected sales can be calculated as follows: ES = (nR/nSyf1$6f ES =

Expected Sales nR = No. of households reporting demand for the product nS = No. of households

surveyed AS = Average sales per demand reporting households N = Total number of households

EXECUTIVE OPINIONS The forecasting is done quickly and easily, without need of elaborate

statistics. A team of high level managers meet and collectively build a forecast. But, there is a

drawback in this method. The opinion of one member might prevail and because of this there are

less likely chances to get a good foreca

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