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One of PlastiPharm's customers requested a new design for a medical device bag. Because this was something PlastiPharm had not produced before, it was difficult
One of PlastiPharm's customers requested a new design for a medical device bag. Because this was something PlastiPharm had not produced before, it was difficult to forecast future sales of this unique design. In the absence of historical data, which of the following options is the best one to use? Analysts could use relevant information from the customer about expectations they have for future sales. The company could use a qualitative approach, expert judgment of highly experienced employees and consultants, to provide insight into future outcomes for the product. The company could use economic data to determine if factors such as interest rates or unemployment levels would influence future demands or trends. Company analysts could use data it already has and tweak the forecast to try to accommodate for the unique design
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