Question

The total sales of a product that a firm expects to sell during a specified time period under specified environmentalconditions and its own marketing efforts is referred to as the a . prognostication. b. sales forecast. c. guesstimate. d. marketing intuition. e. market potential.

Answer 1

Answer:

Correct option is B

Sales forecast

Explanation:

Any forecast can be termed as an indicator of what is likely to happen in a specified future time frame in a particular field. Therefore, the sales forecast indicates as to how much of a particular product is likely to be sold in a specified future period in a specified market at speci­fied price.

Accurate sales forecasting is essential for a business house to enable it to produce the re­quired quantity at the right time. Further, it makes the arrangement in advance for raw mate­rials, equipment’s, labour etc. Some firms manufacture on the order basis, but in general, firm produces the material in advance to meet the future demand.

Answer 2

Answer:

Sale forecast

Explanation:

Sale forecast is the process of measuring the quantity of goods and services that will be sold by an organization in the future.

Sales forecasting enables organisations to see into the future and strategically plan their moves to increase growth of the company in years to come.

Sales forecasting is also very essential to marketers. If the forecast shows a coming decrease in sales, marketers can adapt by creating different promotions that boost more business.