Sales Forecasting Factors Quiz

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Questions and Answers

Which of the following is considered an internal factor in sales forecasting?

  • General economic trends
  • Expected competitor activity
  • Past sales levels and trends for the company (correct)
  • Political and legal events

Which factor is NOT external when forecasting sales?

  • The pricing policy of the company (correct)
  • General economic trends
  • Expected customer activity
  • Trends affecting the industry

What role does planned advertising play in sales forecasting?

  • It predicts competitor activity.
  • It influences external economic trends.
  • It is irrelevant to forecasting accuracy.
  • It is a part of the company's internal factors. (correct)

Which external factor could significantly impact sales forecasting?

<p>Political and legal events (A)</p> Signup and view all the answers

Which aspect is relevant to understanding trends that affect sales?

<p>Recent changes in customer preferences (C)</p> Signup and view all the answers

Flashcards

Internal Sales Factors

Factors affecting sales originating from within the company.

Past Sales Data

Previous sales levels and trends that indicate future sales patterns.

New Products

New offerings planned by the company that may affect sales forecasts.

Pricing Policy

The company's strategy for setting the price of its products or services.

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External Sales Factors

Factors outside the company influencing sales.

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General Economic Trends

Broad economic shifts impacting consumer buying patterns and overall sales.

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Industry Trends

Changes within the industry that influence sales.

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Other Sales Trends

General factors affecting sales, not specifically economic or industry-related.

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Political/Legal Events

Political or legal events affecting the company's operations and sales.

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Competitor Activity

Actions undertaken by competitors that influence the company's sales.

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Customer Activity

Trends and patterns in customer behavior that affect sales.

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Study Notes

Internal Factors Affecting Sales Forecasting

  • Past sales data and trends are crucial for predicting future sales.
  • New product introductions significantly influence sales projections.
  • Company pricing strategies directly affect sales forecasts.
  • Planned advertising and promotions impact sales predictions.

External Factors Affecting Sales Forecasting

  • Overall economic conditions influence sales patterns.
  • Industry trends significantly affect sales.
  • General trends that impact sales should be considered.
  • Political and legal events can alter sales projections.
  • Expected competitor and customer behavior should be accounted for in forecasting.

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