What is a sales forecast? Why is it important?

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What is a sales forecast? Why is it important?

What is a sales forecast? Why is it important?

Answer & Explanation (1)

Here is a tip:
Sales is the amount of revenue earned by a firm on the sale of its goods and services.

Explanation
The sales forecast is important-

To develop market strategies to sustain in the long run.
To calculate the total expected profit.
To do further research about product innovation.
The success of various business activities depends on the accuracy of sales forecasts.
Verified Answer
The sales forecast is the amount of product that the company estimates to sell in a particular period with a particular marketing activity.

It is important to do sales forecasts in business for planning, organizing, implementing, and controlling various marketing activities.

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