Question

Sales forecast refers to;
(a) the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts.
(b) sales goals based on past performances of individual sales representatives, used as motivation for productivity among this staff.
(c) the total sales from a product that could be generated with a hypothetical set of preferred environmental forces.
(d) the total industry sales generated by a product during a specified time period that results from specified environmental conditions.
(e) published information about competitors' sales from the NAICS

Answer 1

Answer:

The answer is: A) the total sales of a product that a firm expects to sell during a specified time period under specified environmental conditions and its own marketing efforts.

Explanation:

Sales forecast is the estimation of future sales during a specific time period.  enables a company to make informed decisions and predict future performance. Usually sales forecast are based on post sales data, economic trends and market positioning.

It is always easier for established companies to predict more accurate sales forecasts based on past information. New companies must use research and market data.

Sales forecasts are useful because companies can allocate its resources more effectively and helps them gather investment capital.