Sample Business Studies Paper On Global Container Corporation

Homework Question on Global Container Corporation

  • For this assignment, read Case 5.2, “Global Container Corporation: Creative Sales Forecasting,” on pages 146-147 of your textbook. Once you have read and reviewed the case scenario, respond to the following questions with thorough explanations and well – supported rationale.
  1. How would you estimate the total market potential for Snork-All? What kind of historical data might help with this project
  2. How would you estimate GC’s sales potential for Snork-All? Who from GC should be involved in developing the sales estimate?
  3. What type of forecasting methods might work best in developing a sales forecast for Snork-All
  4. What would you recommend that Maiko do now? What other information could be used to help develop a better sales forecast for Snork All?
  • References should include your textbook plus a minimum of one additional credible reference. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations , and cited per APA guidelines
  • Course Textbook: Hair, J. F., Anderson, R. E, Mehta, R., & Babin, B. J. (2009).
  • Sales management: Building customer relationships and partnerships .
  • Boston, MA: Houghton Mifflin.

Homework Answer on Global Container Corporation

Market potential refers to the number of potential buyers, an estimated average selling price for the product, and a forecasted usage of a product for a specific period of time. Snork-All is a new need that is yet to be met, and to estimate the market potential for this product, sale managers of Global Containers Corporation need to gather all the relevant data in relation to the targeted customers and define the market size.

The historical data that might assist in this project could be the level of income of snorkelers, the frequency to which they visit the beach, and their total number (Hair, Anderson, Mehta, & Babin, 2009).Global container’s sales potential for Snork-All could be estimated by computing the product of forecast; total number of possible customers (N), average yearly consumption (Q), market share (MS), product awareness (AW), average selling price (P) and product  availability( AV). (Potential Sales= N*Q*MS*AW*P*AV). When developing sales estimates for the Snork-All, the senior management team of the GC should be involved.

Homework Help

This is to make possible the facilitation of resources required in conducting a successful study (Hanson, 2005).The forecasting method that would work best when developing a sales forecast for Snork-All would be applying qualitative techniques. This is supported by the fact that Snork-All will be a new product in the market, data to estimate sales would be scarce and also there is high rate of uncertainty in market penetration and acceptance. The techniques use human judgment and rating schemes to change qualitative information into quantitative estimates to arrive at the potential sale (Hair et al, 2009).