Sales forecasting Flashcards
1
Q
What are some examples of economic variables ?
A
- Economic Growth
- Interest rates
- Inflation
- Unemployment
2
Q
What are some examples of consumer trends ?
A
- Seasonal variations
- Fashion and tastes
- Long term trends
3
Q
What are some examples of competitor actions ?
A
-Failure of one business can lead to the increase in another
4
Q
Limitations with sales forecasting
A
- The quality of the data being used can vary considerably
- Volatile markets, some are more unpredictable than others
- Volatile customers taste and preferences.
- Fluctuations in economic variables, unforeseen external shocks
