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PROJECT TOPIC: EFFECT OF SALES FORECAST ON MARKETING DECISION MAKING (A Case Study of Nigeria Bottling Company Benin City)

EFFECT OF SALES FORECAST ON MARKETING DECISION MAKING

 

 

ABSTRACT

The purpose of this study is to examine the effect of sales forecast on marketing decision making using Nigeria bottling company plc, Benin city Edo state as a case study. To achieve this purpose, questionnaires were designed and hypothesis were formulated. The questionnaire were administered on the respondents and data collected on the respondents and data collected were analyzed using percentage to determine the frequency distributed. The hypothesis were analyzed using chi-square statistical data analysis to test the hypothesis. The result of the analysis revealed that a satisfactory package of sales forecast is important in making marketing decision. Sales forecast is self assessment tool for a company and the future direction of the company rests upon accuracy of sales forecasting. Recommendations were made that, for effective sales forecast, market decision making must not be treated as an isolated exercise rather it must be integrated in all aspect of the organization also it is significance to note that, if you are selling more than one product, you should prepare a separate forecast for each group. The more focus your sales forecast is the more precise its outcome will be.

 

 

 


CHAPTER ONE

INTRODUCTION

Background to the Study

The heart of management in all level of responsibilities is the fundamental requirement of being able to communicate sales forecast have an effect in the dissemination of business information to the target market and general public. The task of business management would be simpler if industry was not continual state of change. This change is reflected in increasing competition precipitated to a large extent by the growth of global competition which has increased over the last decade.

Accurate forecasting or prediction of an event in a business environment in which and organizations exist is important in the design of productive sales force, structure and control over cost and profit.

This makes it difficult for an organization to forecast or predict their future prospect in terms of sales, cost and profit. Forecasting itself is a realistic estimate so as to currently anticipate what a buyer is likely to do under a given set of condition.

Forecasting helps management to anticipate the future and reduce uncertainty which limit their ability to plan effectively. Successful forecasting requires a skillful blending of art and science including experience, judgment and technical expertise.

EFFECT OF SALES FORECAST ON MARKETING DECISION MAKING

Statement Of Problem

Most manufacturing companies perform poorly in terms of sales forecast. This is why several criticisms have been leveled against them. Huge sum of money is been expended on sales forecasting through marketing managers which draws the company’s finance. In spite of the benefits from sales forecasting in an organization, there is also the view that it is expensive consuming huge amount of money.

 

EFFECT OF SALES FORECAST ON MARKETING DECISION MAKING

 

 

 

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