Forecasting, Budgeting, Territories, Evaluation and Legal/Ethical Issues

This week we will spend some time learning how to define the overall potential of the market in terms of sales volume. We will then use this information to develop a sales forecast for our market. We will next describe three approaches to calculating market potential. Once we have arrived at our sales forecast, we will discuss some of the key issues that may influence our sales forecast. We will finish up our week with a discussion of the 9 commonly used forecasting methods along, the data used in each and some of the pros and cons of each method.

In this module, we will address sales territory management. We will discuss why sales territories are created and two approaches used to develop a sales territory.

In this module, we will discuss sales performance evaluation. We will identify the components of performance evaluation. As part of that, we will introduce something called the Pareto Principle or as you might know, the “80/20 Rule.” We will show you five options for analyzing sales volume. Finally, we will address cost analysis/evaluation. As part of that, we will discuss some of the problems with analyzing marketing costs and how marketing cost analysis is applied to business decision making.