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Ultimately the use of multiple forecasting techniques serves to increase the knowledge of a market and minimize market entry risk.
How would you forecast sales force size in a specialized industry, for example, aircraft?
As the demand for aircraft is defined by a select set of customers who have highly specialized information needs, defining the sales force size for aircraft would be easily accomplished by looking at the average sales cycles in this specific industry (which happen to be quite long) combined with the project management skills necessary to ensure a design win. A design win is the event where the aircraft is designed into the broader program of an airline, or in the case of military aircraft, purchased by a branch of the Department of Defense. Taking the average length of sales cycles and the total population of potential customers for the specific aircraft, calculating the size of the sales force as a result would be possible. As aircraft are highly specialized, it would typically be a much smaller sales force than for other, more broadly sold products.
How would you use market research to estimate sales potential?
In defining the sales potential for...
First, it's critical to realize that not just a single research approach can be taken for determining the sales potential for a product or service. Instead, the secondary research necessary to first discover the known causal relationships in a marketplace that impact sales need to be determined. From this knowledge, creating a series of primary research programs to measure demand for a product, quantifying the sales potential can be completed. Interviewing potential prospects through a variety of interviewing techniques including in-person interviews, mail-based surveys, or Internet-based surveys are all viable options. In addition, the use of Jury of Expert Opinion and focus groups are also viable approaches to gaining insights into what level of demand exists for a product. In addition, measuring the sales trending of substitute and competitive products can also yield significant insights into the sales potential for a new product. The bottom line is that multiple approaches to measuring sales potential need to be used if an accurate sales forecast is to be generated.
With respect to its operations, Verizon Wireless is unparalleled. Indeed, it "is one of the strongest competitors due to the foundation of its large nationwide service area and strong customer base. With two quarters of 1.9 million net additions, it has set the bar for competitors to reach." (BW, 1) This is based on a convergence of extremely visible advertising tactics via television, radio, billboard and sponsorship with a service
Experimental Research Methods in Business Experimental Research Methods The author provides a survey of the literature illustrating applied experimental research methods in cross-sections of business and organization types. The advantages and disadvantages of the experimental research methods are discussed for each of the examples provided which run the gamut from depression-era agricultural economics to research conducted for the National Science Institute. While the article focuses on business research methods, the range of
During their descriptive study, the researchers determined that businesses were having trouble filing all the necessary forms because there were so many different places that identical forms must be filed. The final solution reached by the market team was the "how" of this descriptive study. In this case, the solution was to streamline the forms and create an online database that would harvest individual information for each business. Conclusion Business research
Our investment research and risk advisory service seeks to optimize each client's returns while also minimizing risk exposure over the long-term. Risk is unavoidable yet through our unique approach to real-time integration of research results and the development of analytics applications that can define trading and investment strategies by range of risk, our analysts and client associates seek to optimize clients' investment goals. The bottom line is that our passion is
In terms of image and market characteristic research this would need to be entirely done from a primary research perspective, assuming CoffeeTime is interested only in their specific brands' image and market characteristics. There are secondary data studies however available for these attributes from a broader standpoint. CoffeeTime's strategic needs for information needs to dictate this decision. Part 2: Finally, what additional strategy (or variation on a given strategy) would you
Marketing In a recent episode of ER, a young girl -- 11 years old or so -- had been kidnapped. During recovery, she was killed. In that case, the death was caused by the hubris of an arrogant new ER attending physician. But it could have been caused at any time by the kidnapper. According to Dwelle (2004), most abducted children are recovered or killed within the first 3.2 hours;