A sales forecast is:
A)a summary of product costs that influence pricing decisions.
B)developed primarily to prepare next year's marketing campaign.
C)solely based on sales of the previous year.
D)often the outcome of elaborate information gathering and discussions among sales managers.

Question

Quizplus · Accepted Answer

A sales forecast is the outcome of elaborate information gathering and discussions among sales managers to project future sales revenues, typically developed for the upcoming year. It takes into account past performance, market trends, customer behavior, and other relevant factors to estimate future demand for a company's products or services. It serves as a basis for budgeting, production planning, inventory management, and other business decisions. It is not just a summary of product costs or a preparation for next year's marketing campaign, although these may be components of the forecast.

A Sales Forecast Is