AA 💜 4.3 Sales Forecasting

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4 Terms

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Sales forecasting

Quantitative technique used to predict a firm’s level of sales revenue over a given time period.

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Benefits of sales forecasting

  • Drive strategic planning

  • Organizations can predict and prepare for opportunities and threats

  • Help businesses to secure external sources of finance.

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Limitations of sales forecasting

  • Extrapolated results may be inaccurate

  • Time consuming and expensive to collect accurate market research data

  • Limited use for businesses in rapidly-changing markets

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