P2 Hw 6- Sales Forecasting Flashcards
1
Q
Trend
A
Something common within consumer wants and needs
2
Q
Demographic
A
A way of grouping people together based on certain characteristic e.g. gender, age, income
3
Q
Globalisation
A
Businesses that operate internationally
4
Q
Affluence
A
An abundant amount of something, usually money or materials
5
Q
Income elasticity
A
The relationship between change in demand and change in income
6
Q
Extrapolation
A
Using past sales data to predict future sales data
7
Q
Sales volume
A
Total amount of goods/services sold is a set period of time
8
Q
Sales Value
A
The amount a product is sold for
