259. Businesses pursuing a seek a competitive advantage by concentrating on one special market segment and trying to offer customers in that segment a unique product. A. Differentiation strategy. B. Cost leadership strategy. C. Focused differentiation strategy. D. Focused cost leadership strategy. E. Emergent strategy.

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Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.