Business – 8.1 Marketing analysis – Sales forecasting | e-Consult
8.1 Marketing analysis – Sales forecasting (1 questions)
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| Aspect | Market Research Surveys | Expert Opinion |
| Source of Data | Responses from customers or potential buyers | Insights from industry specialists or senior managers |
| Typical Cost | Often high due to questionnaire design, sampling and data processing | Generally lower, especially if experts are internal |
| Reliability | Depends on sample size and questionnaire quality; can be statistically validated | Subjective; may be affected by personal bias or limited perspective |
| Time to Obtain | Medium to long, especially for large samples | Quick if experts are readily available; may require several meetings for consensus |