Why Is Sales Forecast The Starting Point Of Budgeting

Sales forecasting helps the organization to make decision on which produces are to be dropped, which ones are to be continued, which ones need modification and which ones are to be added. It enables the organization to realize it exact position in the market which in turn facilitate optimum utilization of resources, achieve optimum gains as a result of marketing opportunities, and ensure optimum penetration of markets.

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Furthermore, sales forecasting constitute the backbone of marketing. It not only provides for the numbers in regard to sales, but also critical clues regarding customers, needs, preferences and tastes. Only with appropriate sales forecasting can the organization meaningfully manage formulation of an effective marketing strategy and take control of its marketing planning in totality.

Read also Forecasting Methods ā€“ Powerpoint Presentation

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