Entrepreneurship I: Which Q? - Forecasting Sales
"I need to know how many employees you think I should hire " Ms. Smith asks the SBA.
Qualitative
If you hear that the cost of plastic for toy production is increasing. you can make advance purchasing decisions.
Qualitative
Nifty Sporting Goods has a customer suggestion box for new products that the store should offer for sale.
Qualitative
Not quite as accurate or precise as the other method,, this method is quite useful.
Qualitative
Observation of current trends is helpful in sales forecasting.
Qualitative
Oliver, the manager of a Wendy's restaurant, calls another Wendy's manager to find out how they competed with a new MacDonald's.
Qualitative
Predicting sales for new product based on feeling would fall under this category.
Qualitative
Business publications can detail the sales of GM vehicles in 2013.
Quantitative
Exact data and facts can be provided through this sales forecasting method.
Quantitative
Method of sales forecasting that is most expensive is this type.
Quantitative
New image hair salon hires a firm to conduct a survey to determine the frequency of salon visits.
Quantitative
Retirement-related purchases will increase with the rise in the senior-citizen population - population figures will be needed.
Quantitative
Sales figures for last year can help a business plan current inventory levels.
Quantitative
Unemployment figures could decrease demand and may be useful for inventory planning decisions.
Quantitative
