Question

Intuition and expediency are primary characteristics of which of the following sales forecasting methods?

a) Surveys
b) Executive judgment
c) Cycle analysis
d) Market tests
e) Industry indicators

Answer 1

Executive judgment is characterized by intuition and expediency, relying on experiences and instincts of executives for sales forecasting.

This correct answer is b)

Step-by-step explanation:

Intuition and expediency are primary characteristics of the Executive judgment sales forecasting method.

Unlike other more systematic forecasting methods such as surveys or market tests, Executive judgment relies on the experience and instincts of company executives.

They use their knowledge of the industry, the company, and possibly comparative historical data to estimate future sales.

This method can be quick and cost-effective, though it may not always be as accurate as methods based on more rigorous data analysis.

This correct answer is b)