Sales and Distribution

INTRODUCTION:

In this assignment, we have to understand the concept of sales forecasting and its importance in real life.

SALES FORECASTING:

Sales forecasting is the way toward evaluating future deals. Exact sales estimates empower organizations to settle on educated business choices and foresee here and now and long haul execution. Organizations can construct their estimates with respect to past deals information, vast examinations, and monetary patterns.

It is less demanding for built up organizations to anticipate future deals in view of years of past business information. Recently established organizations need to construct their forecast in light of less-confirmed data, for example, statistical surveying and aggressive insight to figure their future business.

Sales forecasting gives knowledge into how an organization ought to deal with its workforce, income, and assets. Notwithstanding helping an organization dispense its inside assets successfully, prescient deals information is vital for organizations when hoping to secure venture capital.

Sales forecasting allows companies to:

• Predict achievable sales revenue.
• Efficiently allocate resources.
• Plan for future growth.

Different methods to do sales forecast:

• Qualitative Techniques

1. Expert opinion
2. Delphi technique
3. Consumer survey method
4. Sales force estimate
5. Sales hierarchy estimate

• Quantitative Techniques

1. Moving averages
2. Sales ratio method
3. Market share projection
4. Regression analysis

Personal selling:

Personal selling is the point at which an organization utilizes salespersons to manufacture a relationship and draw in clients to decide their necessities and accomplish a business arrange that may not generally have been put. The personal selling process is a seven stage approach: prospecting, pre-approach, approach, presentation, handling objections, closing deal, and follow-up.