This document discusses factors that affect sales forecasting, including internal factors within a company's control like labor issues, inventory levels, and pricing, as well as external factors outside a company's control such as economic conditions, competition, customer preferences, population changes, and weather. Accurate sales forecasts allow companies to make informed business decisions and predict short and long-term performance. Both internal and external factors are considered in developing a sales forecast.
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
Sales forecast is about estimating future sales.
Sales forecast is an estimated unit of sales in either rupees or number of units which could be sold for a specific period of time
Better sales forecasts
Enables a company to perform better
Make more informed decisions; and
Serves as a basis for determining the short run and the long term performance of a organization
Provide inputs for expected sales for a particular company or industry
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
Industrial marketing (or business-to-business marketing) is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw materials.
POSITIONING
COMPONENTS OF POSITIONING
MARKET POSITIONING MAP
5 EASY STEPS FOR BRAND POSITIONING
REAL EXAMPLES OF MARKET POSITIONING MAP
TYPES OF MARKET POSITIONING
PRODUCT POSITIONING PROCESS
APPROCHAES TO POSITIONING STRATEGY
Purchasing Management
Principles of Purchasing Management OR (8 R'S)
Functions of Purchasing Management
Negotiating
Value Engineering
VALUE ANALYSIS
Receive Purchase Request
Supplier selection
Payment Authorization
Market research and Information
Selection of Source
Determination of Price and Availability
Follow Up
Strategies Affecting Consumer Behavior:
Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are various factors influencing the purchases of consumer such as social, cultural,economic, personal and psychological.
1. Social Factors
Social factors also impact the buying behavior of consumers. The important social factors are: reference groups, family, role and status.
a)Reference Groups
Reference groups have potential in forming a person attitude or behavior. The impact of reference groups varies across products and brands. For example if the product is visible such as dress, shoes, car etc .
b) Family
Buyer behavior is strongly influenced by the member of a family. Therefore marketers are trying to find the roles and influence of the husband, wife and children. If the buying decision of a particular product is influenced by wife then the marketers will try to target the women in their advertisement. Here we should note that buying roles change with change in consumer lifestyles.
c) Roles and Status
Each person possesses different roles and status in the society depending upon the groups, clubs, family, organization etc. to which he belongs. For example a woman is working in an organization as finance manager. Now she is playing two roles, one of finance manager and other of mother. Therefore her buying decisions will be influenced by her role and status.
2. Cultural Factors:
Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and social class.
Culture
Basically, culture is the part of every society and is the important cause of person wants and behavior. The influence of culture on buying behavior varies from country to country therefore marketers have to be very careful in analyzing the culture of different groups, regions or even countries.
Subculture
Each culture contains different subcultures such as religions, nationalities, geographic regions, racial groups etc. Marketers can use these groups by segmenting the market into various small portions. For example marketers can design products according to the needs of a particular geographic group.
Social Class
Every society possesses some form of social class which is important to the marketers because the buying behavior of people in a given social class is similar.
3. Economic Factors:
Consumer behaviour is influenced largely by economic factors. Economic factors that influence consumer behaviour are as: personal income, family income ,savings ,consumer credit and other economic factors.
a) Personal Income:
The discretionary personal income refers to the balance remaining after meeting basic necessaries of life. This income is available for the purchase of shopping goods, durable goods and luxuries. An increase in the discretionary income leads to an increase in the expenditure on shopping goods, luxuries etc. which improves the standard of living
Sales forecast is about estimating future sales.
Sales forecast is an estimated unit of sales in either rupees or number of units which could be sold for a specific period of time
Better sales forecasts
Enables a company to perform better
Make more informed decisions; and
Serves as a basis for determining the short run and the long term performance of a organization
Provide inputs for expected sales for a particular company or industry
Retail Management Notes, Basics of Retail Management, Classification of Retailers, Types of Retailers, Scope of Retailing, Functions of Retailers, Role of Retailers in Distribution Channel, Indian retailscape, organized and Unorganized Retailers,
Industrial marketing (or business-to-business marketing) is the marketing of goods and services by one business to another. Industrial goods are those an industry uses to produce an end product from one or more raw materials.
POSITIONING
COMPONENTS OF POSITIONING
MARKET POSITIONING MAP
5 EASY STEPS FOR BRAND POSITIONING
REAL EXAMPLES OF MARKET POSITIONING MAP
TYPES OF MARKET POSITIONING
PRODUCT POSITIONING PROCESS
APPROCHAES TO POSITIONING STRATEGY
Purchasing Management
Principles of Purchasing Management OR (8 R'S)
Functions of Purchasing Management
Negotiating
Value Engineering
VALUE ANALYSIS
Receive Purchase Request
Supplier selection
Payment Authorization
Market research and Information
Selection of Source
Determination of Price and Availability
Follow Up
Strategies Affecting Consumer Behavior:
Consumer behavior refers to the selection, purchase and consumption of goods and services for the satisfaction of their wants. There are various factors influencing the purchases of consumer such as social, cultural,economic, personal and psychological.
1. Social Factors
Social factors also impact the buying behavior of consumers. The important social factors are: reference groups, family, role and status.
a)Reference Groups
Reference groups have potential in forming a person attitude or behavior. The impact of reference groups varies across products and brands. For example if the product is visible such as dress, shoes, car etc .
b) Family
Buyer behavior is strongly influenced by the member of a family. Therefore marketers are trying to find the roles and influence of the husband, wife and children. If the buying decision of a particular product is influenced by wife then the marketers will try to target the women in their advertisement. Here we should note that buying roles change with change in consumer lifestyles.
c) Roles and Status
Each person possesses different roles and status in the society depending upon the groups, clubs, family, organization etc. to which he belongs. For example a woman is working in an organization as finance manager. Now she is playing two roles, one of finance manager and other of mother. Therefore her buying decisions will be influenced by her role and status.
2. Cultural Factors:
Consumer behavior is deeply influenced by cultural factors such as: buyer culture, subculture, and social class.
Culture
Basically, culture is the part of every society and is the important cause of person wants and behavior. The influence of culture on buying behavior varies from country to country therefore marketers have to be very careful in analyzing the culture of different groups, regions or even countries.
Subculture
Each culture contains different subcultures such as religions, nationalities, geographic regions, racial groups etc. Marketers can use these groups by segmenting the market into various small portions. For example marketers can design products according to the needs of a particular geographic group.
Social Class
Every society possesses some form of social class which is important to the marketers because the buying behavior of people in a given social class is similar.
3. Economic Factors:
Consumer behaviour is influenced largely by economic factors. Economic factors that influence consumer behaviour are as: personal income, family income ,savings ,consumer credit and other economic factors.
a) Personal Income:
The discretionary personal income refers to the balance remaining after meeting basic necessaries of life. This income is available for the purchase of shopping goods, durable goods and luxuries. An increase in the discretionary income leads to an increase in the expenditure on shopping goods, luxuries etc. which improves the standard of living
Components Of Marketing Environment PowerPoint Presentation SlidesSlideTeam
Components Of Marketing Environment PowerPoint Presentation Slides is a tailormade virtual tool for marketers to showcase the business climate effectively. Our market intelligence PPT theme helps you demonstrate productive evaluation methods like PESTEL, VRIO, SWOT, 5C, and Porter’s five forces. The useful data visualization tools included in this market survey PowerPoint slideshow favorably structure complex information like marketing environment composition. Illustrate external influences over your business model or the impact of microenvironment factors on marketing using market analysis PPT template. The absorbing graphical layout of the business environment PowerPoint presentation will help to convey micro-and macro-environmental elements to the audience. This market research PPT slideshow allows you to present the most appropriate analysis tool for different market components. Using our marketing environment PowerPoint theme, you can consolidate the impact of current advertising, public relations, and other marketing strategies. So, download this trading environment PPT presentation to elucidate the influence of marketing components on organizational aims. https://bit.ly/375KQDs
Leveraged data analytics to make informed decisions on transactional data, products purchased and customer behavior. Performed a descriptive and exploratory analysis with key deliverables.
Sales forecasting with examples ( asian paints and cocacola)sakshi singh
Sales forecasting meaning, advantages, disadvantages etc. Also a strong example of Asian paints and Coca cola with the facts of their sales forecasting for over past years and strategies used by them to manage sales forecasting.
The 2015 RSW/US New Year Outlook survey was completed by 123 senior level Marketers and 158 Marketing Agency executives during December, 2014.
The purpose of the survey was to glean insights relative to marketer and agency perspective as they each headed into 2015.
Topics explored included “troubling trends”, spending expectations, the impact of Republican control of the House and Senate, the value of using search consultants to help manage searches and the movement to consolidate agency rosters, among many others.
As in the past, Adweek contributed questions which were included in both the marketer and the agency survey.
In some cases, we compared the responses of questions in this survey to the same question asked as far back as 2010 to help provide yearly perspective.
Our hope is the key findings and implications from this study are of value as you kick your marketing and sales planning into gear for 2015.
Of the three major environments in a situation analysis (internal, customer, external), which do you think is the most important in a general sense? Why? What are some situations that would make one environment more important than others?
APPENDIXMarketing Plan WorksheetsThese worksheets will assis.docxjustine1simpson78276
APPENDIX
Marketing Plan Worksheets
These worksheets will assist you in writing a formal marketing plan. Worksheets are a useful planning tool because they help to ensure that important information is not omitted from the marketing plan. Answering the questions on these worksheets will enable you to:
1. Organize and structure the data and information you collect during the situation analysis.
2. Use this information to better understand a firm's strengths and weaknesses, and to recognize the opportunities and threats that exist in the marketing environment.
3. Develop goals and objectives that capitalize on strengths.
4. Develop a marketing strategy that creates competitive advantages.
5. Outline a plan for implementing the marketing strategy.
These worksheets are available in electronic format on our text's website at www.cengagebrain.com. By downloading these worksheets, you will be able to change the outline or add additional information that is relevant to your situation. Remember that there is no one best way to organize a marketing plan. We designed our outline to serve as a starting point and to be flexible enough to accommodate the unique characteristics of your situation.
As you complete the worksheets, it might be useful to refer back to the text of the chapters. In completing the situation analysis section, be sure to be as comprehensive as possible. The viability of your SWOT analysis depends on how well you have identified all of the relevant environmental issues. Likewise, as you complete the SWOT analysis, you should be honest about the firm's characteristics. Do not depend on strengths that the firm really does not possess. Honesty is also important for your listing of weaknesses.
I. Executive Summary
The executive summary is a synopsis of the overall marketing plan. It should provide an overview of the entire plan including goals/objectives, strategy elements, implementation issues, and expected outcomes. The executive summary should be the last part of the marketing plan that you write.
II. Situation Analysis
A. The Internal Environment (refer to Exhibit 3.3)
Review of marketing goals and objectives
Identify the firm's current marketing goals and objectives.
Explain how these goals and objectives are being achieved.
Explain how these goals and objectives are consistent or inconsistent with the firm’s mission, recent trends in the external environment, and recent trends in the customer environment.
Review of current marketing strategy and performance
Describe the firm's current marketing strategy with respect to products, pricing, distribution, and promotion. Which elements of the strategy are working well? Which elements are not?
Describe the firm's current performance (sales volume, market share, profitability, awareness, brand preference) compared to other firms in the industry. Is the performance of the industry as a whole improving or declining? Why?
If the firm's performance is decli.
9 Important Things To Consider In Quarterly Results Before Investing In Stock...ZyloStar
The Global exchange-listed companies must file their quarterly results with the stock market for the four quarters ending in June, September, December, and March. The March results also will include the annual results of the corporate.
SWOT AnalysisSWOT AnalysisBy Christopher Gi.docxssuserf9c51d
SWOT Analysis
SWOT Analysis
By: Christopher Gilbert
BUS/475
Instructor: Dr. Steve Verrone
June 15,2016
Factors that are in the external environment and their effect on the Neon Software, Inc.
Business Factor: Influence on the organization
Economic Condition
Economic conditions can be a threat to a business due to the regular changes that occur such as the increase in interest rates of goods and services. This makes customers reduce their purchasing power of goods and services available in the market. This affects the manufacturing organization for they will produce the products in small amounts to avoid loss. Unemployment
.
Technology
Technology may become a weakness to the organization if they are not aware of the up to date technology to remain competitive in the market and deliver quality and unique product to the customers. Organizations that lag behind in technology are at risk of losing their shares in the market
Environmental
This involves the surrounding such as climatic changes which may include floods, drought and global warming. Global warming is a phenomenon where harmful products affect the ozone layer. This can be may be a weakness in the business that highly relay on agricultural products. Their production of goods and services may decrease and this affects their income.
Social
This involves the change in lifestyle. Organizations should be up-to-date with various lifestyles in the market so that to meet customer’s needs and wants.
For example for the product that is on fashion is jeans trousers, the organizations should increase their productivity since they an opportunity for improving their productivity. This improves the organization operation in the market, more so increase their operating profits.
Innovation
This bring creative and coming up with new ideas that enhance the productivity of an organization. This opportunity to the organization since they can be able to improve their operations by adopting advanced technique in their production thus being competitive in the market. This led to the production of a unique product that will be attractive to the customers and this will lead to increase in the level of production.
Competitive analysis
This stands out to be a threat to the organization since they should be aware and keen of the new entrant in the market. Competitors always try to be smart in the market for they lower the prices of their products as compared to others and also try to rebrand the existing products in the market so that they may attract the customers. Therefore, organizations should always be alert to identify such competitors.
Strategy
This refers to patterns of action over a period of time. Organization bases their ideas and decisions on various strategies so as to archive the set objectives and goals. This becomes the strength of the organization for they are able to remain competitive in the market and improve their productivity.
Structure
This refers the hierarch ...
Similar to Factors affecting sales forecasting (20)
1. FACTORS AFFECTING SALES FORECASTING
Presented to : Presented by :
Rinoj PK Sir Zameerul Islam
Department Of Business Administration GH-0264
Aligarh Muslim University Centre, Malappiuram 18MBAK-17
2. SALES FORECASTING
Sales forecasting is the process of estimating future sales.
Accurate sales forecasts enable companies to make informed business
decisions and predict short-term and long-term performance.
3. SALES FORECASTING FACTORS
Internal factors External factors
Labour problems Relative state of economy
Inventory shortage Direct and indirect competition
Working capital shortage Taste and preference of customer
Price change Consumer earnings
Change in distribution methods Population change
new product line Weather change
4. INTERNAL FACTORS
Factors that occur within the organization and are in control of the
organization.
These factors can changed accordingly to increase sales as well as
forecast.
5. INTERNAL FACTORS
Labour Problems
If an organization is facing some
sort labour problems such as
labour strike,etc then the sales
forecast of that organization will
automatically come down but if all
the labours of the organization are
working properly then then the
sales forecast of the organization
will be high.
6. INTERNAL FACTORS
Inventory Shortage
If the organization is facing
some sort of inventory or raw
material shortage then the sales
forecast of that organization will
be low as the more products are
not available with the
organization and vice-versa.
7. INTERNAL FACTORS
Working Capital Shortage
Working capital = current assets –
current liabilities
Since the production need day to day
need of working capital so, if the
working capital of an organization is
low then it’s sales forecast will be low
and vice-versa.
8. INTERNAL FACTORS
Price Change
The price of the product also plays a vital
role in the sales forecast of an organization.
If the organization is willing to increase the
price in future then the sales forecast of the
organization will be low and if the
organization is willing to decrease the prices
in future then the sales forecast will be high.
9. INTERNAL FACTORS
Change In Distribution Methods
If the organization changes it’s
distribution method then the
sales forecast of the organization
will fluctuate according to the
new method adopted.
10. INTERNAL FACTORS
New Product Line
If the company introduces new product
and hence increases it’s product line then
automatically the sales forecast will
increase and vice-versa.
11. EXTERNAL FACTORS
Factors that occur outside the organization and are not in control of the
organization.
These factors cannot be changed accordingly to increase sales as well
as forecast.
12. EXTERNAL FACTORS
Relative State Of Economy
The current state of economy plays a vital
role in the sales forcasting. If the
economy is at boom then the sales
forecast of the organization will be high
but if the economy is at recession then
the sales forecast will be low.
13. EXTERNAL FACTORS
Direct And Indirect Competition
Direct competition is a situation in which
two or more businesses offer products or
services that are essentially the same
while Indirect competition is the conflict
between vendors whose products or
services are not the same but that could
satisfy the same consumer need.
14. EXTERNAL FACTORS
Taste And Preference Of Customer
The change in taste and preferences of the
customers also effect the sales forecasting.
If the taste and preferences changes
towards the product the company
manufactures then the sales forecast will
increase and vice-versa.
15. EXTERNAL FACTORS
Consumer Earnings
If the consumer earnings or income
level of customers increases results
in the increase in sales forecast and
decrease in the level of consumer
earning decreases the sales forecast
accordingly.
16. EXTERNAL FACTORS
Population Change
The increase in population that are able to
buy your product results in the increase of
sales forecast and decrease in the
population that can buy your product
decreases the sales forecast.
17. EXTERNAL FACTORS
Weather Change
Change in weather condition also effect the
sales forecast of the company. The sales of
the umbrella increases in the rainy and
summer season but drops down in winters.