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MODULE 1: TOPIC 2
Forecasting – business needs to collect information about future sales, effects of promotion, possible changes in the size of markets to accurately predict and reduce uncertainty in production
Forecasting techniques/ advantages and disadvantages: (presentations)
Sales force composite
Delphi method
Jury of experts
Consumer surveys
Moving average
Least squares regression
FOR FURTHER READING: Chapter 2 CAPE Management of Business
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