A retail manager seeks a better way to forecast the demand for LED light bulbs. She believes the demand is related t advertising expenditure. The table below shows historical data for the past 5 months. A) Is there a relationship between sales and advertising? How strong or weak? 3) The company will spend $1,750 next month on advertising. Determine the forecast for sales? Historical Data Month Sales 264.000 116.000 Advertising $2.500 $1.300
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- Under what conditions might a firm use multiple forecasting methods?Problem 1: Identify three product or service categories other than books, video, and music where the “Long Tail” appears to be an important factor online. For each of your examples. point out which of Anderson’s causal factors seem to be important. Problem 2: Brynjolfsson et. al.’s model of consumer surplus provides a quantitative measure of the value of the Long Tail. Outline a method, and the kind of data that you would want, in order to apply this model to one of your examples in part 1. Problem 3: Still using the Brynjolfsson model, are there any scenarios where increasing the online product assortment might actually reduce surplus? The Long Tail, Chris Anderson, (2006), “Ch. 1: The Long Tail,â€Â pp. 15-26.  “Ch. 3: A Short History of the Long Tail,†pp. 41-51, “Ch. 4: The Three Forces of…As a Sales Head for a consumer durable firm, you wish to have sales forecast trends based on past sales rendered. Briefly describe the methods of forecasting future demand on the basis of past sales.
- To carry out their analysis, planning, implementation, and control responsibilities, marketing managers need a marketing information system (MIS) to assess information needs, develop the needed information, and distribute it in a timely manner. Assume that you are a Marketing Manager of Khaddi and your company wants you to deploy an efficient Marketing information system. Explain how all the components of the Marketing Information system will help Khaadi in collecting information and forecasting demand?How does the accuracy of prediction markets compare to public opinion polls? Prediction markets' accuracy varies widely, They both are equally accurate. Prediction markets provide less accurate forecasts Prediction markets provide more accurate forecasts.Briefly explain how the organization forecast sales for its products (digicel)
- How would a fast-moving consumer good (FMCG) retailer use collaborative forecasting to improve supply chain performance? 1) manufacturer new product introductions can be better integrated with category assortment plans 2) retail promotional plans can be shared with suppliers to reduce the bullwhip effect 3) retail promotional plans can be shared with suppliers to ensure adequate availability 4) all of the aboveUsing historical sales data, choose a quantitative technique to forecast sales for that organisation for the next sales period. Comment on the appropriateness of the technique used. (digicel)what is Nissan's car company sales for the past 7 years?
- Estimate the y-intercept for the sales history trend line. $45,000 $95,000 Other $80,000To carry out their analysis, planning, implementation, and control responsibilities, marketing managers need a marketing information system (MIS) to assess information needs, develop the needed information, and distribute it in a timely manner. Assume that you are a Marketing Manager of Foodpanda and your company wants you to deploy an efficient Marketing information system. Explain how marketing intelligence will help Foodpanda in collecting information and forecasting demand?Table: Factors causing the decline in salesFactors % ContributionDelayed deliveries 15%Lack of delivery personnel 8%Inaccurate sales orders 25%Wrong deliveries 32%Delayed invoicing 6%Pilferage 7%Expired items 7% a. Following the Pareto Principle, what are the vital factors or main contributors to the decline in sales? Show your Pareto Chart and indicate or label the vital factors or contributors to the problem.Hint: know the vital few % b. What are the vital factors or vital contributors to the problem? c. If the sales and marketing manager wants to reduce the impact of vital factors or contributors by 70%, what will be a good GOAL Statement to improve his sales problem?