Jain University

Operations Management

2020-22 Semester III

Name of the Student: REDDY AKKAMMA BHARATH Reg. No.20MBAJ0062

Assessment 3.1 - 13th Sep 21 / 1.00 – 3.15 pm

3.1 Individual Activity – Forecasting Decisions - 5 Marks

Among the given below scenarios, what is best suitable method or combination of
methods for qualitative forecasting decisions (Delphi, Experts Opinion, Survey of Buyers’
expectations, Sales force composite, Historical analogy)? Give justification remarks with
examples.

a. Titan - A Quartz Watch Manufacturing company interested to diversify its products

to Smart time devices like Smart watch, Smart Desktop Time devices wants to expand
its Market across the Country.

The suitable methods for the above scenario would be

 Executive opinions
 Historical Analogy
 Survey of buyers ‘expectations

Executive opinions:
Titan which is running for a number of years together with quartz watch making company,
they are now into the manufacturing of the smart watches and devices. The executive
opinions which contains debates between people from various backgrounds like HR,market
leaders, finance & productions etc where people discusses about the important decision that
are to be concluded whether there is any requirment for change or it can go with the same
Historical analogy:
Historical analogy is the data wherein such instances have taken place, about different
companies’ image and sales data. It also takes customers review, opinions, market value etc
for analogy so company can fallow the strategy which is fallowed by the other company

Survey of buyers ‘expectations:

The customers of titan are very loyal where they give the review on launching the upcoming
products and their preferences through the survey on the people this makes easier to know the
expectations on new product and their preferences

b. HUL interested in product update & new product development in various portfolios.

The suitable methods for the above scenario would be

 Executive opinions
 Survey of buyers ‘expectations
 Delphi Method

Executive opinions
The brand HUL is very well known to everyone through their daily need products. As the
brand is interested in product update & new product development in various portfolios.They
must take executive opinion as they would give the best option after referring to various
departments.they go with the opinions given by the hierachy of the differnt departments

Survey of buyers ‘expectations:

HUL is daily need product everyone will come across their product so buyers expections play
a major role in the launching of a new products to meet their expectations so the survey
method is helpful to make a decision to lauch the new prodcuts.

Delphi Method:
The HUL may go for the delphi method where this method is helpul to company for
launching the new product because a group of experts and professionalists shares their
opinion and ideas on customer preferences through their great experiences so this will be
helful for launching the new products of HUL
c. KOMFORT ROYAL – a furniture company would be interested in aggressive push
strategies & interested for developing promotional programs.

The suitable methods for the above scenario would be

 Sales Force Polling
 Delphi Method

Sales Force Polling:

Salesmen maintains a close bonding towards customers where he directly promotes a product
and make a good sales So encouraging the salesmen by giving incentives can push them into
achieving the target and increasing sales. So sales force polling is very suitable,where
customers are being convinced by the salesmen to purchase the product.

Delphi Method
Delphi method is the one where the company can follow the opinions,ideas which are given
by many experts from their great experiences about the expectations of people towards the
new product launch.

d. GENIUS SOFT – an app development company looking for reduction in lead time of
new app development.

The suitable methods for the above scenario would be

 Delphi Method
 Experts Opinion

Delphi Method
This app development company can follow the experiences and ideas of experts through a
neat questionnaire in which several questions are contained based on the launch of new
product and to know the respective opinion of customers for new product so this method will
be helpful for the launching of new product
Experts Opinion
This method also works more or less like Delphi Method where experts are bought in and
taken opinions about how to improve on their time management and to help them deliver the
project soon.