5.02 Futurecast Lap Test

Front

Most sales forecasts are based on past sales performances as well as: expected market conditions, the number of local competitors, managers’ hopes for the future, government regulations.

Back

expected market conditions.

Front

Which of the following is a potential benefit of sales forecasting: Decreased revenue, Increased efficiency, Higher costs, New product ideas

Back

Increased efficiency

Front

Which type of sales forecasting is based on expert opinion and personal experience?

Back

Qualitative

Front

Which type of sales forecasting is based on the analysis of hard facts or numerical data? Options: Long range, Quantitative, Qualitative, Short range

Back

Quantitative

Front

Which of the following is an example of internal information used for quantitative sales forecasting: Mass media stories, Government reports, Trade magazines?

Back

Past sales records

Front

Which of the following is an example of external information used for quantitative sales forecasting: Customer surveys, Accounting records, Financial statements, Industry publication

Back

Industry publication

Front

Which of the following is an advantage of quantitative sales forecasting: It’s reliable., It provides a “human touch.”, It’s cheap., It’s perfect for new businesses.

Back

It’s reliable.

Front

Which of the following is an internal factor that may affect a business’s sales forecast: Economic conditions, Competition, Length of time to complete sales, Season/Weather

Back

Length of time to complete sales

Front

How would an inventory shortage likely affect a business’s sales forecast?

Back

Predicted sales would be lower.

Front

Which of the following is an external factor that may affect a business’s sales forecast: Promotion, Distribution, Price, Political conditions

Back

Political conditions