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Java Games: Flashcards, matching, concentration, and word search. |
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MP014 - ME12 SALES FOR MARKETING PLAN
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| sales forecast | is a prediction of what a firm’s sales will be during a specific future time period |
| Top-down approach | also known as the breakdown approach, the sales forecast is prepared for the company as a whole. Then, the forecast is broken down into forecasts for specific products, salespersons, territories, product lines, departments, etc |
| Bottom-up approach | also known as the build-up approach, the sales forecast is prepared by starting with separate forecasts for specific products, salespersons, territories, etc. Then, these individual forecasts are combined into a forecast for the entire company. For example, a shoe company might gather forecasts for each line of shoes or for each salesperson’s territory and combine the data to forecast sales for the whole company. |
| Quantitative Forecasting | Numerical data may come from internal sources such as: o Sales records o Past product/market research o Customer surveys that the company has on hand |
| Dephi Technique | This method, also called the expert survey, is a variation of the jury of executive opinion. It involves company executives and outside experts such as university professors, consultants, or industry analysts. |
| Sales force composite | This method gathers opinions from the sales force. |
| Survey of buyer intentions | This forecasting method gathers information about consumers’ plans to purchase products. |
| Qualitative Forecasting | forecasting methods are based on expert opinion and personal experience. This method is especially common when sufficient historical data isn't available, i.e., for a new business or a less-established market environment. |
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Business Marketing Teacher, Career Technical Education |
CENTRAL CABARRUS HIGH SCHOOL |
| Concord, NC |
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