2.Lack of realistic sales forecasts is a common reason why businesses fail. Is based solely on past experience e. A customer forecasting survey is a survey of customers regarding the quantities of products that they intend to buy during a specific period. Customers must be willing and able to make accurate estimates of future product requirements. Surveys reflect buying intentions, not actual purchases.
Surveys usually require large amounts of time and money.
A sales-force forecasting survey consists of estimates by members of a firm's sales force of the anticipated sales in their territory for a specified period. Forecasts can be prepared for single territories, divisions, regions, or the total market. For the survey to be effective, salespeople must be accurate and consistent estimators. The expert forecasting survey is a sales forecast prepared by experts such as economists, management consultants, advertising executives, college professors or other persons outside the firm. With time series analysis a forecaster uses historical data to discover patterns in the firm's sales over time and generally involves trend, cycle, seasonal, and random factor analyses.