Appropriateness of technique chosen - Marketing Management

There can be no general conclusion drawn as to which is the best forecasting technique to employ, but it is certainly true that a forecast should consider both objective and subjective aspects. The analyst can only consider what is required, and with the resources that are available, try to match them against a method that will provide the best result. The techniques considered cover a range of objective and subjective, quantitative and qualitative techniques that require various resources and data for their employment. It is the situation, within various constraints, that should determine the method to be used for forecasting, not external constraints of cost, simplicity and personal preferences.


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