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sales forecasting - Coggle Diagram
sales forecasting
PURPOSE
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marketing budgets = business uses SF for each brand to know whether to boost sales of a star product of revive sales of struggler
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production plannning = to satisfy demand for product business needs to ensure that enough products are made and enough raw material
FACTORS AFFECTING
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actions of competitors
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changing prices = comp undercuts prices, steaks sales = SF opitimistic = cut prices in response = all figures the same but revenue lower than predicted = affect profit
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DIFFICULTIES
most use technique called extrapolation = assume past trends will continue BUT factors affecting change forecast
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