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Direct Hit

Unit 4 - Marketing

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Chart Increasing

Unit 1 - Introduction To Business Management

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Briefcase

Unit 2 - Human Resource Management

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Money Bag

Unit 3 - Finance & accounts

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Factory

Unit 5 - Operations management

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Bar-Chart

Unit 6 - Assessment

<ul>
	<li>
	What is it? 🤔

	<ul>
		<li>Predicting a company&#39;s future sales levels and trends over a specific time frame.</li>
		<li>📊 Real-world example: Apple might forecast how many iPhones they&#39;ll sell next year based on past sales, advertising plans, and market research.</li>
	</ul>
	</li>
	<li>
	Practice Q: Define sales forecasting.

	<ul>
		<li>Answer: Sales forecasting is a process where a company estimates its future sales levels and trends over a specified time frame.</li>
	</ul>
	</li>
</ul>

What&#39;s up with the Seasons? 🌸❄️

<ul>
	<li>Sales can go up or down depending on the time of year.</li>
	<li>🛍️ Real-world example: Ice-cream sales spike in summer but drop in winter.</li>
</ul>

Riding the Economic Rollercoaster! 🎢

<ul>
	<li>Changes in sales linked to the ups and downs of the overall economy.</li>
	<li>💸 Real-world example: Luxury car sales might decrease during an economic downturn but increase during a boom.</li>
</ul>

The Unexpected! 🎉

<ul>
	<li>Sudden changes in sales that stand out from the usual trend.</li>
	<li>🚫 Real-world example: A sudden trend in fidget spinners took markets by storm and then faded away.</li>
</ul>

Trend Lines&#39; Best Buddy! 📉

<ul>
	<li>Helps develop trend lines by averaging out sales data, making it smooth.</li>
	<li>📈 Real-world example: A store might average out monthly sales over the past year to spot an overall increasing trend, despite some months being lower than others.</li>
</ul>

Looking into the Future! 🔮

<ul>
	<li>Drawing a line of best fit on past sales data to predict future sales.</li>
	<li>🎯 Real-world example: If a startup&#39;s sales have been growing 10% each month for the past year, they might extrapolate that this trend will continue into the next year.</li>
</ul>

<ul>
	<li>
	What&#39;s Happening? 📉

	<ul>
		<li>B-Games, an awesome computer games company, foresees a recession and thinks about changing up their product game!</li>
		<li>But... should they?
		<ul>
			<li>Marketing Director: 🤨 Will people buy new games in a recession?</li>
			<li>Financial Director: 😧 Do we have enough money for new products?</li>
		</ul>
		</li>
		<li>Solution? Use sales data from the past 7 years for sales forecasting!</li>
	</ul>
	</li>
	<li>
	Practice Qs 📝

	<ul>
		<li>&nbsp;Benefits &amp; Limitations for B-Games using Sales Forecasting?

		<ul>
			<li>Benefits</li>
		</ul>
		</li>
		<li>Make informed decisions based on past trends.</li>
		<li>Prepare for potential downturns.</li>
		<li>Allocate resources effectively.</li>
		<li>Understand market behavior better.</li>
	</ul>
	</li>
	<li>Limitations
	<ul>
		<li>Past trends might not always predict the future.</li>
		<li>Doesn&#39;t account for unforeseen changes (new competitors, tech innovations).</li>
		<li>Assumes all conditions remain constant.</li>
	</ul>
	</li>
</ul>

🎉 Happy Revising! Remember, sales forecasting isn&#39;t a crystal ball, but it&#39;s a pretty cool tool in the business toolkit! 🛍️📊🎢🔮

Unit 4 - Marketing

Master Sales Forecasting: Navigate Seasonal Trends & Make Smarter Decisions

Table of content

💡Sales forecasting

🍂Seasonal variations

📈Cyclical variations

🎲Random variations

Unlock the Full Content!

Unit 4 - Marketing

Master Sales Forecasting: Navigate Seasonal Trends & Make Smarter Decisions

Table of content

💡Sales forecasting

🍂Seasonal variations

📈Cyclical variations

🎲Random variations

Unlock the Full Content!