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Channel and Customer Surveys:In some of markets, such as business to businessmarkets, research companies tend to ask customers how much they are likely tospend on given products in a given time period. The research companies will then sellthe research to companies. Sometimes the companies will conduct their own surveysto produce their own forecasts. These surveys are generally better at determining themarket potential than the sales potential. After all, a consumer probably knows whatthey’ll buy.Sales Force Composite:This forecast is based on information gathered from the salesforce of a company. Salespeople usually have a good intuition of how much of aproduct can reasonably sell in a given time period. They are close to the customerand therefore know first-hand what is realistically possible. It is usually harder forsalespeople to estimate sales of a new product, however, unless they have sold suchproducts before. This method is only suitable for existing products not for the newproducts.Executive Opinion:It is usually the starting point of many forecasts. It can be madeeven more thorough and accurate by basing the bonuses of executives on theamount of sales they make. an incentive to generate well-thought-out opinions onthe sales potential of a product. Executive opinion should always be backed byquantitative techniques and research.Expert Opinion:This is similar to executive opinion, only the expert is a third partyfrom outside the organisation. Also, opinion, is similar like executive it should also bebacked by research and quantitative methods.
10. Define the term return on investment and explain how it is calculated.Return on Investment (ROI) is a performance measure used to evaluate the efficiencyof an investment or compare the efficiency of a number of different investments.To calculate ROI, the benefit of an investment is divided by the cost of theinvestment. The result is expressed as a percentage or a ratio.ROI= Total Investment/ Cost of Investment
Assessment 2Internet coffee shop Marketing PlanJavaNet Internet CaféBusiness ObjectiveJavaNet internet café is determined to become a daily necessity for local coffee addicts,place to escape the daily stress with the ability to access the internet, enjoying a cup ofcoffee and sharing of internet experiences and comfortable place to meet friends in a cosyand comfortable environment.The main objective is to provide the locals with a social educational, entertainmentatmosphere for overall correspondence.In order to help local people and increase the knowledge with computers and internet andalso to connect to the world wide web.The development of an environment that will carry individuals with various interests andbackgrounds together in a common forum.