Sales Force Management we are talking here which is part of agency management system. We talked Sales Force Automation in past post.
Today we are going to talk Sales Forecasts and Sales Budgeting.
Sales forecasting is the estimation of future sales of a company in a given period. It indicates how much a company with a given amount of resource can sell if it implements a particular marketing program.
Methods of sales forecasting
Sales forecasting method is a procedure for estimating how much of a given product can be sold if a given marketing program is implemented. Following are the some of the methods used in forecasting.
- Jury of executive opinion
- Delphi technique
- Poll of sales force opinion
- Projection of past sales
- Time series analysis
- Exponential smoothing
- Survey of customer buying plans
- Economic model building and simulation