2.2.1 Sales Forecasting

What is forecasting?

• The art and science of estimating future sales or costs with accuracy

• The process of creating a budget

• The method of analyzing past sales

• The technique of reducing costs

What is one of the purposes of sales forecasting in finance?

• To plan distribution

• To predict sales volume and sales revenue

• To design new products

• To hire new employees

How does sales forecasting help in marketing?

• By setting budgets

• By identifying when promotional activity is needed

• By assessing ability to break-even

• By informing cash-flow forecasts

Which of the following is a financial benefit of sales forecasting?

• Helps in setting budgets

• Helps in designing marketing campaigns

• Helps in hiring staff

• Helps in product development

What does sales forecasting inform in terms of finance?

• Product design

• Cash-flow forecasts

• Employee training

• Market research

Sales forecasting helps businesses expect what to flow in from sales?

• New customers

• Money

• Products

• Employees

What is one of the purposes of sales forecasting in marketing?

• To assess ability to break-even

• To plan distribution

• To set budgets

• To inform cash-flow forecasts

Sales forecasting helps in finance by assessing the ability to do what?

• Launch new products

• Break-even

• Increase staff

• Expand globally

What is a financial purpose of sales forecasting?

• To plan distribution

• To predict sales volume and revenue

• To design marketing campaigns

• To hire new staff

Sales forecasting is used to plan for workforce needs during what times?

• Off-peak times

• Peak times

• Holiday seasons

• Weekends