2.2.1 - Sales Forecasting Flashcards Preview

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Flashcards in 2.2.1 - Sales Forecasting Deck (6)
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1

Define Sales Forecasting

The predicting of future sales volume and trends

2

What are the Financial Purposes of Sales Forecasting?

> Inform cash-flow forecasts
> Help set budgets
> Assess ability to break even

3

What are the Other Purposes of Sales Forecasting?

> Plan workforce needs
> Stock management
> Output requirements

4

What Social Factors Affect Sales Forecasts?

> Consumer trends
> Brand image
> Demographics
> Shopping methods

5

What Economic Factors Affect Sales Forecasts?

> Interest Rates
> Employment trends
> Competitor actions

6

What are the Difficulties in Sales Forecasting?

> Changing business environment
> Uncertainties
> Time frames