Question

One qualitative forecasting method bases the forecast for a new product or service on the actual sales history of a similar product or service. An example is forecasting demand for the newest model of iPod by using the demand history from the previous model of iPod. This method is:______.

a. build-up forecasting.
b. Delphi.
c. panel consensus forecasting.
d. life cycle analogy.

Answer 1

d. life cycle analogy.

Step-by-step explanation:

Based on the information provided within the question it can be said that this method is known as a life cycle analogy. Like mentioned in the question this focuses on trying to identify the time and demand in which a product needs to be introduced as well as it's growth maturity, and decline life cycle stages based on a previous model of that product.