2.2.1 Sales forecasting Flashcards
1
Q
What is sales forecast?
A
Sales forecasts predict future revenues based on past sales figures
Sales forecasts are an important tool to support planning
2
Q
What are factors affecting sales forecasts?
A
Consumer trends (Seasonal and fashion)
Economic variables (inflation, economic growth, unemployment, interest rates, exchange rates)
Actions of competitors
3
Q
What are difficulties of sales forecasting
A
Too much data
The future doesn’t always mirror the past
interpretation
