Sales forecasting that is based on expert opinion and personal experience

Sales forecasting that relies on historical data and statistical methods

Sales forecasting that uses market trends and consumer behavior analysis

Sales forecasting that is based on random sampling and guesswork

A group of people who share the same characteristic(s) (e.g., age, nationality, gender)

A marketing strategy aimed at a broad audience

A type of product designed for a specific demographic

A financial analysis of market trends

Sales forecasting that predicts sales for periods of one week to three months; used for short-term planning.

Sales forecasting that predicts sales for periods of three months to two years; used to plan quarterly or yearly budgets or to determine whether to make capital expenditures (purchases of equipment, land, etc.)

Sales forecasting that predicts sales for periods of two to five years; used for long-term strategic planning.

Sales forecasting that predicts sales for periods of one year to five years; used to assess market trends.

A point of reference

A type of measurement

A statistical analysis method

A financial report

A magazine or newspaper

A type of book

A scientific journal

A daily news report

The goods a business has in stock

The process of managing financial records

The total amount of money a business earns

The equipment used in production

Sources of information that reach large audiences; television, books, magazines, newspapers, radio, movies, and the internet

Only refers to television and radio

A form of social media used for personal communication

A type of print media that includes only newspapers

Sales forecasting that predicts sales for periods of less than three months; used to aid in day-to-day decision-making regarding planning, scheduling, staffing, inventory, etc.

Sales forecasting that predicts sales for periods of three to six months; primarily used for quarterly planning.

Sales forecasting that predicts sales for periods of more than six months; focused on long-term strategic planning.

Sales forecasting that predicts sales for periods of one year or more; used for annual budgeting and resource allocation.

A type of marketing strategy

One of the groups into which the total market is divided; also known as market segment

A method of product pricing

A promotional campaign targeting a specific audience

The stages through which goods and services move from the time they are introduced on the market until they are taken off the market

A model that describes the marketing strategy for a product after its launch

The process of developing new products to replace old ones

The period during which a product is actively marketed and sold

Sales forecasting that is based on the analysis of hard facts or numerical data

Sales forecasting that relies on expert opinions and market trends

Sales forecasting that uses historical data without numerical analysis

Sales forecasting that is based on subjective judgment and intuition

A prediction of future sales over a specific period of time

An analysis of past sales data

A strategy for increasing sales

A report on current sales performance

Facts that come from sources inside the business (e.g., accounting records, financial statements)

Data collected from external market research

Opinions gathered from customer feedback

Trends observed in industry reports

Neutral; unbiased

Subjective; biased

Partial; opinionated

Emotional; personal

Prejudice

Objectivity

Neutrality

Indifference

Specific selling goals set for members of the sales force

General guidelines for marketing strategies

Targets for customer satisfaction ratings

Budgets allocated for advertising campaigns

The initial investment required to start a business

The ongoing, day-to-day expenses of running a business that are not directly related to production

The costs associated with marketing and advertising a product

The expenses incurred during the production of goods

A recurring expense for daily operations

A one-time purchase a business makes (e.g., land, building, equipment)

An expense related to employee salaries

A cost associated with marketing campaigns

A short-term plan.

A long-term plan.

An operational plan.

A tactical plan.