Sales Forcasting

Sales Forcasting - Developing an accurate sales forecast...

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Developing an accurate sales forecast has an obvious effect on the sales organization, but it also has a fundamental effect on the efficiency and effectiveness of the firm’s operations. There are several types of forecasts, these can be accomplished using either a top-down or bottom-up approach, and there are many methods that can be utilized to create the forecast. If done properly, the sales manager will have a powerfull basis from which she can make organizational decisions, and the firm will have a strong basis for its operational planning. For a forecast to have any value, it must include three factors: product level, geography, and time period. The product level ranges from product element sales to entire industry sales. The geography could fall anywhere between the individual custumer being served to the entire world demand. The time period indicates anything from short term to long term expectations. These factors determine the type of forecast. There are four forecast types, which include market potential (best possible industry demand), market forecast (expected level of industry sales), sales potential (best possible individual firm sales), and sales forecast (expected level of firm sales). Our MBA518 textbook, Sales Management
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This note was uploaded on 04/07/2008 for the course BUSA 101 taught by Professor Hamilton during the Spring '07 term at SUNY Suffolk.

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Sales Forcasting - Developing an accurate sales forecast...

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