Approaches to forecasting market potential and sales
Problem: Need help understanding the two basic approaches to forecasting market potential and sales. The two approaches are (1) extending past behavior and (2) predicting future behavior.
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There is a two step process in marketing segmentation: (1) naming broad product-markets and (2) segmenting these broad product-markets in order to select target markets and develop marketing mixes.
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What factors contribute most to the consumption of these items? How do marketers leverage these factors in their marketing strategies?
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