Contents

• Summary
• Introduction
• Importance
• Setting sales target
• Difficulties and challenges in forecasting
• Relevancy of theories/methods in present scenario
• Conclusion
• List of references

Description

In any organization it is the sales/marketing force which directly comes in to contact with the customers/dealers and convey the description about the services/products which they are providing. For the sales force to work effectively and efficiently its necessary to set some targets which they have to achieve in the specific time. These targets are set considering the old sales data, present demand in certain segment, competitor’s market share and various other factors. For this there is need of effective sales forecasting for certain period of time to maintain balance between demand & supply. So it’s very necessary to evaluate all of the relevant data and information for future need. The present article focuses on the general background of the forecasting, sales target and budgeting and their importance in the successful marketing for any organization. The article contains the research based articles from different business journals and the views of the researchers for the further improvement if necessary in different segment of the industries. The article also depicts the relevancy of the traditional techniques/methods used and their appropriateness in present scenario and in the uncertainty of the changing markets.