MYTUTOR SUBJECT ANSWERS

1075 views

How does quantitative sales forecasting compare to qualitative sales forecasting?

Advantages of quantitative forecasting:

-Numerical so easy to interpret and easy to analyse for example graphs can be made.

-Data can be objectively interpreted and bias is often not an issue.

Disadvantages of quantitative forecasting:

-May lack detail.

-Correlations do not show cause and effect, so may be hard to determine this.

-Extrapolation may be reductionist – just because there has been a 5% increase in sales over the last few years, doesn’t mean this will continue. Many external factors.

Advantages of qualitative forecasting:

-Detail rich; lots of information to work with.

-Open and unrestricted – for example brain storming discussions can allow for innovation.

Disadvantages of qualitative forecasting:

-May be issues of subjectivity in interpreting consumers’ answers.

-Consumers may feel coerced into giving answers that the business wants to hear, so may lack validity (e.g. in test market, they may not like a product as much as they say).

Peter C. GCSE Business Studies tutor, A Level Business Studies tutor,...

1 year ago

Answered by Peter, who has applied to tutor A Level Business Studies with MyTutor


Still stuck? Get one-to-one help from a personally interviewed subject specialist

13 SUBJECT SPECIALISTS

£20 /hr

Gleb P.

Degree: BSc International Management (Bachelors) - Warwick University

Subjects offered:Business Studies, Economics

Business Studies
Economics

“I am a passionate and outgoing university student who has a passion for teaching and bringing excitement to the subject.”

MyTutor guarantee

£26 /hr

Emma S.

Degree: Education Studies Sociology (Bachelors) - Durham University

Subjects offered:Business Studies

Business Studies

“About me:  I am an Education studies student at Durham Univeristy. Business Studies is something I have always enjoyed and had a knack for. As an AS and A2 student I used to do free tutoring for peers helping them to understand conten...”

£30 /hr

Helen M.

Degree: Law (Bachelors) - Durham University

Subjects offered:Business Studies, Maths+ 2 more

Business Studies
Maths
.LNAT.
-Personal Statements-

“Durham law graduate with four years tutoring experience in a wide range of subjects. ”

About the author

£20 /hr

Peter C.

Degree: BA Business and Management with Industrial Experience (Bachelors) - Exeter University

Subjects offered:Business Studies, Psychology+ 5 more

Business Studies
Psychology
Maths
ICT
Geography
English
Biology

“Top tutor from the renowned Russell university group, ready to help you improve your grades.”

MyTutor guarantee

You may also like...

Posts by Peter

Evaluate the use of marketing plans for businesses:

How does quantitative sales forecasting compare to qualitative sales forecasting?

Other A Level Business Studies questions

Who are the key players in the world economy?

What is profit and loss? (Including worked question)

How do I structure my answers?

Case Study: PLG Ltd’s financial position is relatively weak. To what extent should this be the most important influence on its promotional mix given its objective of growth

View A Level Business Studies tutors

We use cookies to improve your site experience. By continuing to use this website, we'll assume that you're OK with this. Dismiss

mtw:mercury1:status:ok