2.2.1 Sales forecasting

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4 Terms

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Sales forecasting

Projection of future sales revenue, often based on previous sales data

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What are the processes sales forecasting can use?

Time series data, market research, economic forecasts and backdata

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What can sales forecasting help determine?

- Effect of future sales of products

- Effect of promotion on sales

- Possible changes to the market

- Seasonal fluctuations in sales

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Limitations of sales forecasting

- Market volatility - some markets are more dynamic and unpredictable

- Volatile customer tastes and preferences

- Economic shocks

- Accuracy of the data