About This Chapter
Sales Forecasts & Budgets - Chapter Summary
Feel confident in your understanding of the sales budgeting process and different ways to approach sales budgets and forecasts by exploring the bite-sized lessons in this informative chapter. Our instructors offer in-depth analyses of the types of sales forecasting, ways to analyze selling activities and results and much more. Multiple-choice quizzes check your comprehension of these and other related topics. This chapter's self-paced format lets you choose which lessons to review and visit them as often as you'd like. Enjoy the ability to study any time and from any location with an Internet connection using your computer or mobile device. Upon completion, you will be able to:
- Define and share examples of a sales budget
- Calculate sales revenue and explain how it impacts a business's available money
- Exhibit knowledge of sales forecasts, marketing metrics and marketing budgets
- Differentiate between short-term, long-term and immediate sales forecasting
- Describe and share an example of the percentage of sales approach to financial forecasting
- Explain how to compute the sales mix with limited resources
- Discuss how CRM can be used to forecast sales and report production efforts
- Share best practices for analyzing selling activities and results
1. Sales Budget: Definition & Examples
The sales budget is often the first document that a company produces for accounting purposes, and is also one of the most important ones to be made. Learn all about it in this lesson on sales budgets.
2. How to Calculate Sales Revenue: Definition & Formula
This lesson discusses the importance of sales revenue, explains how sales revenue is calculated, and analyzes how sales revenue can affect the money a business has available.
3. Sales Forecasts, Marketing Metrics & Marketing Budgets
Various tools in the marketing world can be useful for projecting and tracking plans and goals. In this lesson, you'll learn more about sales forecasts, marketing metrics, and marketing budgets.
4. Short-Term, Long-Term & Immediate Sales Forecasting
Creating sales forecasts is a critical activity in an organization as it helps estimate the amount of income that will be coming into the business in the short and long term, as well as immediately.
5. The Percentage of Sales Method: Formula & Example
Businesses need to forecast their sales growth on an annual basis and determine their borrowing needs. In this lesson, you will learn about the percentage of sales approach to financial forecasting.
6. Computing the Sales Mix with Limited Resources
Businesses face limitations in producing their products or services. In this lesson, you'll learn how a business determines its optimal sales mix with limited resources.
7. Using CRM to Forecast Sales & Report Production Efforts
Every business wants to be able to accurately forecast their sales and production efforts to ensure proper materials and staffing. Using your CRM can make both of these processes easier.
8. How to Analyze Selling Activities & Results
Sales activities are critical for the livelihood of a business. Equally important is having an effective way to analyze sales activities and results. Several methods are explained and examples are provided for each method.
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