Describe the differences between the forecasting methods that can be used.

As a marketing analyst, you are responsible for estimating the level of sales associated with different marketing mix allocation scenarios. You have historical sales data, as well as promotional response data, for each of the elements of the marketing mix.

  • Describe the differences between the forecasting methods that can be used.
  • Evaluate the forecasting methods in relation to the given scenario.
  • Choose a forecasting method and justify your choice. If you make any assumptions, state them explicitly. Support your discussion with relevant examples, research, and rationale.

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