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What are the factors that are considered while forecasting firm's sales enumerate the special difficulties in forecasting the sales of consumer durables?
Wiki User
∙ 11y ago
-Sales forecasts are common and essential tools used for business planning, marketing, and general management decision making. A sales forecast is a projection of the expected customer demand for products or services at a specific company, for a specific time horizon, and with certain underlying assumptions.
-Assessing market potential involves observing and quantifying relationships among different social and economic factors that affect purchasing behaviors. Analysts at the industry level look for causal factors that, when linked together, explain changes (upward or downward) in demand for a given set of products or services.
-Sales forecasting is an attempt to predict what share of the market potential identified in a market forecast a particular company expects to have. For very small companies that serve only a fraction of the total market, the company forecast may not even explicitly consider the market forecast or share, although implicitly, of course, the company's sales are subsumed under the total market size. In the other extreme, a monopoly's sales forecast is essentially the same as the market forecast.
-Forecasting may also consider how the company rates against its competitors in terms of market share, research and development, quality, pricing and sales financing policies, and overall public image. In addition, forecasters may evaluate the quality and size of the customer base to determine brand loyalty, response to promotions, economic viability, and credit worthiness.
Wiki User
∙ 11y ago
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A consumer products manufacturer wants consumer reaction to its existing products Interaction is considered important to stimulate thinking The firm should use?
A consumer products manufacturer wants consumer reaction to its existing products Interaction is considered important to stimulate thinking The firm should use
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Consumer knowledge as consumer behaviour function?
consumer knowledge
What is the difference between Consumer goods and retail goods?
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Which market or markets are consumer goods and services bought into?
Goods or services bought by a consumer are bought in the consumer market. The consumer market includes fast moving consumer goods, consumer durables, soft goods and services.
Are deer consumer or producer?
deer are actually considered herbivores and they eat only plant but its considered consumer !
What has the author Nancy H Mantell written?
Nancy H. Mantell has written: 'The NYREM short-term CPI forecasting model, January 1983' -- subject(s): Consumer price indexes, Forecasting, Prices
Is a wolf a primary consumer or a secondary consumer?
They are normally considered a secondary consumer.
Are prairie grass a consumer?
NO, they are considered producers.
Why is the consumer considered ''King'' in a capitalist economy?
The consumer is considered King, in a capitalist economy, because the spending of the consumer is what drives the entire economy. The more the consumer spends the better the economy becomes.
Is a tubeworm a high order cosumer secondary consumer or a primary consumer?
It can be considered a secondary consumer.
What type of consumer is the raccoon?
The raccoon is generally considered a secondary consumer.
What is another name for a consumer?
A user would also be considered a consumer.
Why is the sun considered primary consumer?
The sun is not considered to be a primary consumer. The sun is an energy source that is used by primary consumers.
Which of these is considered a consumer service?
landscaping
Which of these is considered a consumer good?
television
Is party rental considered as a consumer good business?
Party Rental is considered as rental or party supplies business not consumer goods.
