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How do we develop a sales forecast? |
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You will want to look at the forecasting articles in the Student Guide and the Online Manager Guide. Here is a quick summation:
Go to each Segment Analysis in the FastTrack. Multiply "Total Industry Unit Demand" by the segment’s annual growth rate. Drop to the bottom of the page and count the number of competitive products. Divide demand by your count.
You are basically finding the market size and the number of competing products to get an expected average. Additionally, consider whether products will enter or exit the segment. Check each competitor's production capabilities. Next, compare the merits of your product versus the competition. Finally, examine the question, Will your product be better or worse than average? Better? Range your forecast up; Worse, range it down.
See the "Forecasting" article in the main menu of the Manager Guide and the FAQ under Reports titled "How is the Customer Survey Score Calculated?" for more information on assessing your product.
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