List the specific weaknesses of each of the following approaches to developing a forecast. a. Consumer surveys b. Salesforce composite c. Committee of managers or executives
List the specific weaknesses of each of the following approaches to developing a
a. Consumer surveys
b. Salesforce composite
c. Committee of managers or executives
Weaknesses:
a) Consumer Surveys:
The consumer surveys does not prove to be valid, in case they are not carefully developed and interpreted, because it might result in the fact that the respondents could not be informed properly.
b) Salesforce Composite:
There might be a possibility among the employees that, they cannot spot a difference between what customer would prefer to do and what he actually does. In case, the forecasts are utilized in establishing sales quotas, there is a possibility of an arise of conflict as it results in the advantage of the sales personnel in providing lower sales estimates. Thus, they tend to be over confident or less confident and use these estimates in influencing the sales quotas.
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