Sales Forecasting Introduction - Marketing Management

The task of business management would be simpler if industry was not in a continuous state of change. This change is precipitated to a large extent by the growth of global competition. The widespread adoption of IT-based commercial applications has speeded up the way that business transactions take place. IT-based innovations in manufacturing and service provision have meant that new ideas and procedures are more quickly adopted and implemented. This makes it increasingly important and necessary for organizations to predict future prospects in terms of sales, costs and profits, otherwise there is a danger that they will stagnate and be overtaken by competition.

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