sales forecasting 5.0 / 5 based on 1 rating ? Business StudiesFinancial PlanningASEdexcel Created by: aleyshea darCreated on: 05-03-16 17:57 sales forcasting a sales forecast estimates the volume/ value of future sales using market research/past sales data 1 of 8 market intelligence information relevant to a companys markets, gathered and analysed specifically to inform accurate and confident decision making 2 of 8 total revenue selling price x quantity sold in a given time period 3 of 8 purpose of sales forecasting a business can use sales data to plan for the future 4 of 8 purpose of sales forecasting a new business will not have any previous sales data. so market research is used 5 of 8 purpose of sales forecasting actual sales figures can be compared with predicted sales figures to aid future planning 6 of 8 factors affecting sales forecasting economic variable, consumer trends, actions of competitiors 7 of 8 difficulties of sales forecasting external shocks, new business so no past sales data, prediction not 100% accurate 8 of 8
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