Reference no: EM13860174

Please take the virtual tour of the THomson-Shore Company and answer the following questions:

1. Why is forecasting important to a company like Thomson-Shore?

2. What are the forecasting techniques that Thomson-Shore might find helpful when forecasting?

3. What are the limitations of these techniques for a business such as book publishing?

4. Can you think of other types or approaches to forecasting that might help them?

Please read the De Mar's Product Strategy Case Study and Answer the following questions: (You may work in groups of 2 or 3)

1) What is De Mar's Product? Identify the tangible parts of this product and its service components.

2) How should other areas of De Mar (marketing, finance, personnel) support its product strategy?

3) Eventhough De Mar's product is primarily a service product, how should each of the 10 strategic OM decisions in the text be managed to ensure that the product is successful?

Please take the virtual tour of the Thomson-Shore Company and answer the following questions:

1. Why is forecasting important to a company like Thomson-Shore? Forecasting is important to a company like Thomson-Shore because of their product. Creating and distributing textbooks are almost a risky business for them as well as the individual(s) publishing a book. If the book fails, it is an expensive mistake but if it succeeds, when executed properly it can be profitable publication.

2. What are the forecasting techniques that Thomson-Shore might find helpful when forecasting? I believe that the Thomson-Shore would best benefit from economic and demand forecast. Their line of work is based on their target market and the economy. The demand for a product can be affected by any economic factors. The target markets household income may affect how money is allocated depending on the inflation rate. A book being a necessity versus a desire to own it for pleasure reading is the perfect example.

3. What are the limitation of these techniques for a business such as book publishing? Some limitations but are not limited to for publishing would be how the book is perceived whether it be a negative or positive one, household income, marking the book and any events in the news that may influence it as well.

4. Can you think of all types of approaches to forecasting that might help them? Qualitative and quantitative approaches can be helping to Thomson-Shore; forecasting the volume of sales at a book sale or what type of cover design would help the book sell best are great examples.