HECOL493 Chapter Notes - Chapter 7: Sales Promotion, National Retail Federation, Calcite

• School: University of Alberta
• Department: Human Ecology
• Course: HECOL493
• Professor: Kirsta Willis

Document Summary

Forecasting - predicting what consumers may do under a given set of conditions make forecasts concerning consumer demand, sales, and required inventory levels. Developing sales forecasts forecasting sales requires that buyers identify and understand the internal and external forces that will have an impact on sales. Examining internal forces sales can be affected by (for example): increasing/ decreasing advertising expenditures, liberalizing/tightening credit policies, increasing/decreasing retail prices, changes in store hours, changes in physical facilities. Business publication rates and data - index published by the standard rate and data service, Making sales forecasts step-by-step process that analyzes both internal and external forces that will affect sales. 1: analyze changes in economic conditions, analyze changes in sales potential for speci c products or markets, analyze changes in marketing strategies of your rm and the competition. Census of population - published every 10 years. Forecasting decisions two of the most important forecasts are: sales forecasts stock levels forecasts.