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How do you forecast sales?
Forecasting sales would be 3 type. 1. Seasonal ( festivals, events, famous dates, sports events, movie manias.. etc) 2. Demand based ( Completely depends on the demand our product has now and in the...
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What methods are used to forecast sales?
The five common forecasting methods are executive judgement, surveys, time-series analysis, regression analysis and market tests. Market characteristics, purposes of the forecast, type of product and...
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What is the role of a sales forecast in budgeting?
I believe its your estimated income at a certain date so that you can estimate what you can afford to purchase/spend. Hope this helps
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What are reasons for changes in sales forecast?
If the economic climate changes or you lose large customers, you would change your forecast. Corporations tend not to change them when getting new customers. It always looks good to beat expectations.
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What is the difference between sales budget and sales forecast?
Sales budget is an estimation of sales set by the organisation ( the decision makers - Sales heads like the Director, VP, GM or NSM), based on certain criteria including the market potential,...