E OBJ 5.02 Vocab

Long-range forecasting

• A group of people who share the same characteristic(s) (e.g., age, nationality, gender)

• Sales forecasting that predicts sales for periods of more than two years; used when making strategic plans to develop new products, enter new markets, build new facilities, etc.

• Sales forecasting that is based on expert opinion and personal experience

• A prediction of future sales over a specific period of time

Market segment

• Specific selling goals set for members of the sales force

• A group of people who share the same characteristic(s) (e.g., age, nationality, gender)

• Sales forecasting that predicts sales for periods of less than three months; used to aid in day-to-day decision making regarding planning, scheduling, staffing, inventory, etc.

• The stages through which goods and services move from the time they are introduced on the market until they are taken off the market

Product life cycle

• The stages through which goods and services move from the time they are introduced on the market until they are taken off the market

• Sales forecasting that is based on expert opinion and personal experience

• Sales forecasting that is based on the analysis of hard facts or numerical data

• Specific selling goals set for members of the sales force

Qualitative forecasting

• Sales forecasting that is based on expert opinion and personal experience

• Sales forecasting that is based on the analysis of hard facts or numerical data

• A prediction of future sales over a specific period of time

• Specific selling goals set for members of the sales force

Quantitative forecasting

• The ongoing, day-to-day expenses of running a business that are not directly related to production

• Sales forecasting that is based on expert opinion and personal experience

• Sales forecasting that is based on the analysis of hard facts or numerical data

• Specific selling goals set for members of the sales force

Sales forecast

• A prediction of future sales over a specific period of time

• Sales forecasting that predicts sales for periods of less than three months; used to aid in day-to-day decision making regarding planning, scheduling, staffing, inventory, etc.

• Sales forecasting that predicts sales for periods of more than two years; used when making strategic plans to develop new products, enter new markets, build new facilities, etc.

• Sales forecasting that is based on expert opinion and personal experience

Sales quotas

• A group of people who share the same characteristic(s) (e.g., age, nationality, gender)

• Sales forecasting that is based on the analysis of hard facts or numerical data

• A prediction of future sales over a specific period of time

• Specific selling goals set for members of the sales force

Short-range forecasting

• Sales forecasting that predicts sales for periods of less than three months; used to aid in day-to-day decision making regarding planning, scheduling, staffing, inventory, etc.

• Sales forecasting that predicts sales for periods of more than two years; used when making strategic plans to develop new products, enter new markets, build new facilities, etc.

• A group of people who share the same characteristic(s) (e.g., age, nationality, gender)

• The ongoing, day-to-day expenses of running a business that are not directly related to production