" What is Sales Forecasting . Describe different methods of Sales Forecasting .

Discuss the process of personal selling with the salesman of any company."

To predict the future sales is called sales forecasting. Any manufacturer has some
estimation of sales that will take place in the future. It focus on the activities of
the business enterprise. If there is no sales forecast then the business has to work
in a random manner. Sales forecasting helps to run a business in a planned way.
Short term forecast Medium term forecast Long term forecast
It is for upto 3 It is for 1 year It is for 3 years and
months ahead more
Tactical matters Important for It is needed for
are there business financial
General trend is budgeting accountants for
less important long term
implications.

Sales forecast method:

Qualitative Quantitative
Executive committee consensus Time series analysis
Salesforce composite Causal techniques
Delphi method
Customer surveys

1. Qualitative method:
 2. Quantitative method

Time series model:

 Smoothing models Decomposition models
Moving average Additive models
Single exponential smoothing Multiplicative models
Double exponential smoothing

Process of personal selling:

Prospecting:

Preapproach:
The approach:

Need Assessment:

The presentation:

Product demonstration:

Prepared sales presentation:

Developing effective sales presentation:

Meeting objectives:

Gaining commitment:

Follow up: