The document discusses techniques for sales forecasting. It describes sales forecasting as projecting expected customer demand for products or services to help with business planning. Both qualitative and quantitative techniques are covered. Qualitative techniques include executive opinion, Delphi method, and surveys of buyers. Quantitative techniques covered are projection of past sales, time-series analysis, moving average method, and exponential smoothing. The document provides details on how each technique is implemented to develop a sales forecast.
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
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India
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
Introduction to Consumer Behaviour; Consumer Behaviour
and Marketing Strategy; Consumer Involvement – Levels
of involvement, and Decision Making
Consumer Decision Process – Stages in Decision Process,
Information Search Process; Evaluative Criteria and
Decision Rules, Consumer Motivation – Types of Consumer
Needs, Ways of Motivating Consumers. Information
Processing and Consumer Perception.
Consumer Attitudes and Attitude Change; Influence of
Personality and Self Concept on Buying Behaviour,
Psychographics and Lifestyles, Impuse Buying.
Diffusion of Innovation and Opinion Leadership, Family
Decision Making, Influence of Reference Group
Industrial Buying Behaviour– Process and factors, Models
of Consumer Behaviour – Harward Seth, Nicosia, E& D,
Economic Model; Introduction to Consumer Behaviour
Audit; Consumer Behaviour Studies in India
Evaluation and Control of Sales Performance
Sales Performance
Methods of Supervision and Control of Sales force
Sales Performance Evaluation Criteria
Sales Performance Review
Sales Management Audit
B. Measuring Distribution Channel Performance
Evaluating Channels
Control of Channel
C. Ethics in Sales Management
D. New Trends in Sales and Distribution Management
Marketing research, Role of Marketing Research and Marketing Research ProcessShashiPrabhat2
Hello, friends
This PPT includes the explanation of Marketing Research, Role of Marketing Research and Marketing Research Process or Steps of Marketing Research.
Here you will get the definition of Marketing Research according to American Marketing Association.
If you are getting any doubt, you email me at: shashiprabhat566@gmail.com
Evaluation and Control of Sales Performance
Sales Performance
Methods of Supervision and Control of Sales force
Sales Performance Evaluation Criteria
Sales Performance Review
Sales Management Audit
B. Measuring Distribution Channel Performance
Evaluating Channels
Control of Channel
C. Ethics in Sales Management
D. New Trends in Sales and Distribution Management
Marketing research, Role of Marketing Research and Marketing Research ProcessShashiPrabhat2
Hello, friends
This PPT includes the explanation of Marketing Research, Role of Marketing Research and Marketing Research Process or Steps of Marketing Research.
Here you will get the definition of Marketing Research according to American Marketing Association.
If you are getting any doubt, you email me at: shashiprabhat566@gmail.com
Sales forecasting in the pharmaceutical industry involves predicting future sales based on historical data, market trends, and other relevant factors. It helps companies estimate product demand, plan inventory, allocate resources, and set realistic sales targets. Factors such as regulatory changes, competition, and healthcare trends influence these forecasts. Accurate sales predictions enable pharmaceutical companies to optimize production, manage supply chains efficiently, and adapt strategies to meet market demands, ultimately contributing to business success and effective healthcare product distribution.
Forecasting is a necessary and efficient tool that can give a company plenty of competitive advantage. Traditional methods of sales forecasting focused primarily on roll up of committed sales deals display intrinsic weakness due to their monotony of strategy across agreed sales period. This tends to produce inaccuracy in sales forecast, promotes sandbagging and reduces sales motion. Enhanced models centered on identifying weighted revenue through probabilities for opportunities by category also fail to recon in swing deals and ignores new opportunities in the pipelines. In this paper, I propose a better, dynamic method based on probabilities customized for each sales period.
price discounting strategy. As a result, the hotel decided to focu.docxChantellPantoja184
price discounting strategy. As a result, the hotel decided to focus on the government market because of the hotel's location.
The government market is price-sensitive (there is an allowable per diem) and not as quality-conscious, and the hotel could selectively discount to this large-volume market. Once again, it is important to point out that marketing planning is a continuous process. Marketing managers must evaluate the situation and adapt to changes that occur. Evaluating the success of the marketing plan is the moment of truth. Managers develop a plan to increase the probability of success, and once the plan is implemented, it is important for management to monitor the results. Any variance from the predicted results should be identified, evaluated, and corrected.
As the environment changes or the results vary, management may need to return to the appropriate step to reformulate marketing strategy or the action plans. The marketing planning process continues as a dynamic procedure, with sufficient flexibility allowing for changes in strategies, action plans, or implementation schedules.
SALES FORECASTING
190 CHAPTER 5 DEVELOPING A MARKETING PLAN
SALES FORECASTING 189
One of the most critical components of a marketing plan is the forecast for sales. Sales forecasting is the process for determining current sales and estimating future sales for a product or service. The success of the firm often results from the accuracy of forecasts. The decisions about the elements of the marketing mix—product-service mix, price, promotion, and distribution— that are made during the situation analysis are based on sales forecasts.
Sales forecasting The process for determining current sales and estimating future sales for a product or service.
Sales Forecasting Techniques
Sales forecasting techniques are separated" into two broad categories: quantitative techniques and qualitative techniques. Quantitative techniques use past data values and employ a set of rules to obtain estimates of future sales. Qualitative techniques rely on judgment or intuition and tend to be used when data are not readily available. Quantitative methods can be further classified as either causal or time series. Both types of quantitative methods use trends in historical data to predict future sales; however, causal analysis techniques establish a cause and effect relationship between variables and the results. Using historical data to establish the relationship between sales and other factors that are believed to influence sales. These techniques model the relationships
Expert opinion
Marketers look to a panel of experts with knowledge of the industry and the marketplace to provide a forecast.
Delphi technique The Delphi technique involves collecting forecasts, developing composites, and sending the data to those participating several times until a consensus results.
Sales force forecast
This technique aggregates the sales forecast of each .
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
Top 3 Ways to Align Sales and Marketing Teams for Rapid GrowthDemandbase
In this session, Demandbase’s Stephanie Quinn, Sr. Director of Integrated and Digital Marketing, Devin Rosenberg, Director of Sales, and Kevin Rooney, Senior Director of Sales Development will share how sales and marketing shapes their day-to-day and what key areas are needed for true alignment.
Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
SEO as the Backbone of Digital MarketingFelipe Bazon
In this talk Felipe Bazon will share how him and his team at Hedgehog Digital share our journey of making C-Levels alike, specially CMOS realize that SEO is the backbone of digital marketing by showing how SEO can contribute to brand awareness, reputation and authority and above all how to use SEO to create more robust global marketing strategies.
Search Engine Marketing - Competitor and Keyword researchETMARK ACADEMY
Over 2 Trillion searches are made per day in Google search, which means there are more than 2 Trillion visits happening across the websites of the world wide web.
People search various questions, phrases or words. But some words and phrases are searched
more often than others.
For example, the words, ‘running shoes’ are searched more often than ‘best road running
shoes for men’
These words or phrases which people use to search on Google are called Keywords.
Some keywords are searched more often than others. Number of times a keyword is searched
for in a month is called keyword volume.
Some keywords have more relevant results than others. For the phrase “running shoes” we
get more than 80M relevant results, whereas for “best road running shoes for men” we get
only 8.
The former keyword ‘running shoes’ has way more competition from popular websites to
new and small blogs, whereas the latter keyword doesn’t have that much competition. This
search competition for a keyword is called search difficulty of a keyword or keyword
difficulty.
In other words, if the keyword difficulty is ‘low’ or ‘easy’, there won’t be any competition
and if you target such keywords on your site, you can easily rank on the front page of Google.
Some keywords are searched for, just to know or to learn some information about something,
that’s their search intention. For example, “What shoe size should I choose?” or “How to pick
the right shoe size?”
These keywords which are searched just to know about stuff are called informational
keywords. Typically people who are searching this type of keywords are top of a Conversion
funnel.
Conversion funnel is the journey that search visitors go through on their way to an email
subscription or a premium subscription to the services you offer or a purchase of products
you sell or recommend using your referral link.
For some buyers, research is the most important part when they have to buy a product.
Depending on that, their journey either widens or narrows down. These types of buyers are
Researchers and they spend more time with informational keywords.
Conversion is the action you want from your search visitors. Number of conversions that you
get for every 100 search visitors is called Conversion rate.
People who are at different stages of a conversion funnel use different types of keywords.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
2) ‘Alternative’ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
It's another new era of digital and marketers are faced with making big bets on their digital strategy. If you are looking at modernizing your tech stack to support your digital evolution, there are a few can't miss (often overlooked) areas that should be part of every conversation. We'll cover setting your vision, avoiding siloes, adding a democratized approach to data strategy, localization, creating critical governance requirements and more. Attendees will walk away with actions they can take into initiatives they are running today and consider for the future.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.\
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
A.I. (artificial intelligence) platforms are popping up all the time, and many of them can and should be used to help grow your brand, increase your sales and decrease your marketing costs.In this presentation:We will review some of the best AI platforms that are available for you to use.We will interact with some of the platforms in real-time, so attendees can see how they work.We will also look at some current brands that are using AI to help them create marketing messages, saving them time and money in the process. Lastly, we will discuss the pros and cons of using AI in marketing & branding and have a lively conversation that includes comments from the audience.
Key Takeaways:
Attendees will learn about LLM platforms, like ChatGPT, and how they work, with preset examples and real time interactions with the platform. Attendees will learn about other AI platforms that are creating graphic design elements at the push of a button...pre-set examples and real-time interactions.Attendees will discuss the pros & cons of AI in marketing + branding and share their perspectives with one another. Attendees will learn about the cost savings and the time savings associated with using AI, should they choose to.
Digital Money Maker Club – von Gunnar Kessler digital.focsh890
Title One is a comprehensive examination of the impact of digital technologies on
modern society. In a world where technology continues to advance rapidly, this article delves into the nuances and complexities of the digital age, exploring Its implications across various sectors and aspects of life.
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
15 ideas and frameworks on the art of storytelling
Sales Forecasting Techniques
1. Presented by :
Ojas Maheshwari
Apoorva Gupta
Himanshu Mishra
Neha shivhare
🎃
Techinques of Sales Forecasting
2. What is Sales Forecasting?
• A sales forecast is a projection of the expected customer demand for
products or services at a specific company, for a specific time
horizon, and with certain underlying assumptions
• Essential tool used for business planning, marketing, and general
management decision making.
• Sales forecasting can help you achieve sales goals.
• Sales forecasting can help drive sales revenue, improve efficiency,
increase customer retention and reduce costs.
5. Techniques
✘ Qualitative
Executive Opinion Method
Delphi Method
Sales force Composite Method
Survey of Buyer’s Intention
✘ Quantitative
Projection of Past Sales
Time-series analysis
Moving Average method
Exponential smoothing
Regression Analysis
6. (1) Jury of executive opinion:
Panel charged with developing a sales forecast. The group has
executives from different departments like marketing, sales, marketing
research, finance, production, operations etc.
Each member is asked to provide an estimate of future sales with
written justification. The opinions are then pooled and analyzed at group
meetings. The advantage is its simplicity, but might take too much time of the
executives involved.
7. (ii) Delphi Technique
• Group of experts used to make long-range projections.
Issues like future direction of business conditions, business activities,
technology, new product development, and market conditions.
These experts are kept apart from each other so that their opinions are
established independently.
• They prepare individual forecasts, which are then compiled and then
given back to them for a second round of projections.
This process continues until a consensus forecast of the future emerges.
The Delphi technique has the advantage of eliminating the group pressures
of a typical committee meeting.
8. (iii)Sales Force Composite
• Forecasts arrived at by combining salespersons estimates of expected
sales for their respective territories.
• Field sales people should be motivated to accept sales quotas when they
know that the information they supplied played a major role in
forecasting.
A major disadvantage is that sales people might be a poor judge of future
sales level or market conditions. They can have bias opinions as well.
9. (iv) Survey of Buyer’s Intention
Forecast survey of a limited and well-defined group of buyers. This is
when the potential customers are well defined and limited in number,
such as industrial products.
Disadvantage is that a customer might not always do what they
say and they plan to do. Secondly customer-buying behavior might alter
in response to change in the operational environment.
11. Quantitative Techniques
✘Projection of past sales – technique that attempts to project the last
increment of sales change into the future.
✘Time series analysis – projection of the average increment of sales
change into the future. A time data series is determined by four basic
elements of sales variations (a) trends or long run changes (b) cyclical
changes (c) seasonal variations (d) irregular variation.
12. Quantitative Techniques
✘ Moving Average method-The sales results of multiple prior periods are
averaged to predict a future period Called ‘moving’ because it is continually
recomputed as new data becomes available, it progresses by dropping the
earliest value and adding the latest value.
13. Quantitative Techniques
✘Exponential smoothing – a weighted average time series analysis. Actual sales
of recent periods are weighted more heavily then the average sales of earlier
periods.
NYS= a (TYS)+ (1-a) (TYF)
where a= smoothing constant (0.0-1.0)
ex:-Actual sales=320, Sales forcast=350, a=0.3,
NYF=(0.3)(320) + (1-0.3)(350) = 341 units of products
✘Regression Analysis:- Regression analysis is a statistical process and, as used
in sales forecasting, determines and measures the association between
company sales and other variables.
Past sale projection current year sales adding set percentage.
cy=300,ly=250
Ny=cy*(cy/ly)
Trend-population
Seasonal within12 month
Cyclical-peak,recession,depression,recovery.
A= if sales data changes slowly then a must be small to retain its effect
= if sales data changes rapidly then a must be large to retain its effect