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What role does competition level play in demand forecasting?
  • a)
    It affects the choice of forecasting methods.
  • b)
    It determines the pricing strategy.
  • c)
    It influences production policies.
  • d)
    It has no impact on demand forecasting.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
What role does competition level play in demand forecasting?a)It affec...
Competition level plays a role in demand forecasting as it affects the choice of forecasting methods. In highly competitive markets, demand can be influenced by the number of competitors and their strategies, making it essential to select appropriate forecasting techniques to account for these variables.
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What role does competition level play in demand forecasting?a)It affects the choice of forecasting methods.b)It determines the pricing strategy.c)It influences production policies.d)It has no impact on demand forecasting.Correct answer is option 'A'. Can you explain this answer?
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