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CHAPTER 5 FORECASTING MARKET DEMAND AND SALES BUDGETS I. MANAGING SALES INFORMATION II. FORECASTING MARKET DEMAND A. Marketing Decision Support System – an ongoing, future-oriented structure designed to generate, process, store, and later retrieve information to aid decision making in an organization's marketing program. III. USES OF SALES FORECASTS A. Sales Forecast – the estimated dollar or unit sales for a specific future time period based on a proposed marketing plan and an assumed market environment. B. A sales forecast is important for at least five reasons 1. A sales forecast becomes a basis for setting and maintaining a production schedule—manufacturing. 2. It determines the quantity and timing of needs for labor, equipment, tools, parts, and raw materials—purchasing, personnel. 3. It influences the amount of borrowed capital needed to finance the production and the necessary cash flow to operate the business—controller.
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