Chapter 5 - Chapter 5 Sales Forecasting Budgeting I Sales...

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I. Sales Forecasting : What it is and what it’s about (slide 5) - Sales Forecasting – a prediction of the future market potential for a specific product. It sets the sales expectations for a given time period and indicates what types of products customers are likely to want; looking at last year’s sales at the same time period for comparison - Sales Forecasting and Its Relationship to Operational Planning: ***EXTRA*** 1) Market Potential – a quantitative estimate, either physical or monetary units, of the total sales for a product within a market 2) Sales Potential – the portion of market potential that one among a set of competing firms can reasonably expect to obtain 3) Quotas – sales goal for different sales territories and individual salespeople II. Contingency: Make sure to spell correctly. (Pg. 121) - Contingency – events that are conceivable, but less likely than those based directly on the forecast - Contingency planning – a backup plan to the one adopted; a contingency plan is executed only if
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This note was uploaded on 10/17/2011 for the course MKTG 481 taught by Professor Ve during the Spring '11 term at Nicholls State.

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Chapter 5 - Chapter 5 Sales Forecasting Budgeting I Sales...

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