Marketers use estimates all the time. These educated guesses help them with all sorts of decisions, including product planning, promotional planning, and budgeting. Since estimates are not facts, they are
sometimes adjusted to suit marketers' purposes. For example, data may suggest that the research phase of
development for a new product will cost anywhere from 10 to 15 million dollars. A marketer knows that his
company will not allot more than 10 million dollars and includes only the lower figure to get the project
approved. Since estimates aren't facts, he feels that it is OK to use the lower dollar figure.
1. What do you think of his actions?