Business, 26.11.2020 01:00 coltonduggan

THE INS AND OUTS OF SALES FORECASTING please help and fast
Directions: Read each of the following situations to determine what change is affecting the sales forecast of each business. The changes are:

Competitive
Distribution process
Economic
Market
Marketing strategies
Human resources
Population
Pricing
Product lines
Promotion

After you have identified the change in the blank provided, determine and Highlight if it is internal or external. Then, determine and Highlight whether the sales forecast should increase or decrease due to the change. I’ll give you number 1 so you can see an example of what its suppose to look like!

1. Danny’s Pizza has had an increase in operating costs in the last six months. Danny can see
no solution to this problem except raising the prices of all his menu items.
Change: Pricing Internal or External Increase or Decrease
2. Christmas is six months away. Retailers must decide whether or not to hire extra employees to work during the holiday season. Sales for the retail industry are expected to mirror last year’s figures (which were quite good), but, due to poor sales at the beginning of the year, the number of salespeople at Kat’s Gift Store must be reduced by 20 percent.
Change: Internal or External Increase or Decrease
3. Ever since a major manufacturer built a factory in a small Kentucky town, the population has been exploding. Joe’s Delivery Service has researched the effect of the population increase
on other businesses and concluded that this factor should be taken into consideration when projecting future sales.
Change: Internal or External Increase or Decrease
4. Eddie’s Game Depot has not run any kind of promotion in recent months; however, Eddie has now enlisted the help of an advertising agency.
Change: Internal or External Increase or Decrease

THE INS AND OUTS OF SALES FORECASTING (cont’d)

5. City Chic is a boutique that caters to teens. Most of its product lines include “fad” merchandise that is constantly changing. The boutique’s buyer has to take this short “shelf life” into consideration and avoid over-buying products. However, she mistakenly ordered 500
instead of 50 of a certain jacket. Now, the business manager is creating a three-month
sales forecast for the jackets.
Change: Internal or External Increase or Decrease
6. The owner of Sandy’s Flooring Outlet has a degree in marketing and has researched the
target market, planned an advertising budget, and decided to forecast sales for the next
six months. Sandy has developed her business objectives with realistic goals in mind. She
is ready to open her business and feels her planning will lead to success.
Change: Internal or External Increase or Decrease
7. Al’s Construction Supplies has always had dependable suppliers, but Al was just informed that the supplier he uses for 50 percent of his merchandise will be going out of business at the beginning of next year. Al hasn’t found a reliable replacement yet. He needs to make a sales forecast taking this new information into consideration.
Change: Internal or External Increase or Decrease
8. The economy is in a recession. Consumers’ disposable income has been reduced, and many businesses are experiencing a decline in sales. Frankie’s Hardware is a retailer specializing in do-it-yourself products. When Frankie projects her future sales, she will need to consider these economic changes.
Change: Internal or External Increase or Decrease
9. Dave’s business has been in the same location for 15 years, and he has not had any competition within a 30-mile radius. Now, one competitor is opening a business 10 miles away, and another competitor is opening two miles away. Dave knows he has a new factor to
consider in his sales forecast, especially since his prices are higher than his competitors’.
Change: Internal or External Increase or Decrease
10. A board-game company has introduced a hot new game that is geared toward children ages 6–10. Analysts are predicting that the game will be the most popular item on everyone’s Christmas list this year. The Board Game Barn is a retailer that emphasizes its great selection of board games, and it will be carrying the game throughout the holiday season.
Change: Internal or External Increase or Decrease

Answers: 1

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THE INS AND OUTS OF SALES FORECASTING please help and fast
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