TABLE OF CONTENTS

1. Introduction…………………………………………………………………4
2. Literature review and critical analysis………………………………………5
2.1 What is sales forecasting……………….……………………………...5
2.2 Importance of forecasting in a new B2C business………….…………5
2.3 What affects sales forecasting?..............................................................6
2.4 Techniques of sales forecasting…………………….…………………7
2.4.1 Judgmental methods……………………………………….7
2.4.2 Counting methods………………………………………….8
2.4.3 Newer methods…………………………………………….8
2.5 Adapting forecasting to the company……………………………………...9
3. Conclusion……………………………………………………………….….9
References…………………………….………………………………………10

LIST OF FIGURES

Figure 1: Elements of sales forecasting………………………………………………………………..7
Figure 2: Forecasting techniques used in practice …………………………………………………….8

1. Introduction

This report discusses the importance of sales forecasting to the entrepreneurial start-up firm in B2C market. The previous assignment discussed the case study on the new set up business related to food industry. The business idea was to create a website and a mobile application that allows office people to order healthy food by choosing every ingredient to suit their personal taste. The concept is quite new to the market so the management has to look into the future sales by implementing sales forecasting.

So, the aim and objectives of this report are as follows:

Aim:

· To discuss why sales forecasting is important to the entrepreneurial start-up business in B2C

Objectives:

* To explain the nature of forecasting and the importance of it * To demonstrate an appreciation that there are many ways to produce a sales forecast * To apply the theoretical frameworks on the proposed in the assignment 1 business venture and critically evaluate the relevance of the

2. Literature review and critical analysis