2.2.1 - Sales Forecasting Flashcards
1
Q
Define Sales Forecasting
A
The predicting of future sales volume and trends
2
Q
What are the Financial Purposes of Sales Forecasting?
A
> Inform cash-flow forecasts
Help set budgets
Assess ability to break even
3
Q
What are the Other Purposes of Sales Forecasting?
A
> Plan workforce needs
Stock management
Output requirements
4
Q
What Social Factors Affect Sales Forecasts?
A
> Consumer trends
Brand image
Demographics
Shopping methods
5
Q
What Economic Factors Affect Sales Forecasts?
A
> Interest Rates
Employment trends
Competitor actions
6
Q
What are the Difficulties in Sales Forecasting?
A
> Changing business environment
Uncertainties
Time frames
