sales forecasting

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sales forcasting
a sales forecast estimates the volume/ value of future sales using market research/past sales data
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market intelligence
information relevant to a companys markets, gathered and analysed specifically to inform accurate and confident decision making
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total revenue
selling price x quantity sold in a given time period
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purpose of sales forecasting
a business can use sales data to plan for the future
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purpose of sales forecasting
a new business will not have any previous sales data. so market research is used
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purpose of sales forecasting
actual sales figures can be compared with predicted sales figures to aid future planning
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factors affecting sales forecasting
economic variable, consumer trends, actions of competitiors
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difficulties of sales forecasting
external shocks, new business so no past sales data, prediction not 100% accurate
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Other cards in this set

Card 2

Front

information relevant to a companys markets, gathered and analysed specifically to inform accurate and confident decision making

Back

market intelligence

Card 3

Front

selling price x quantity sold in a given time period

Back

Preview of the back of card 3

Card 4

Front

a business can use sales data to plan for the future

Back

Preview of the back of card 4

Card 5

Front

a new business will not have any previous sales data. so market research is used

Back

Preview of the back of card 5
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