Budgeting Question:
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Which factors are taken into consideration while preparing it?
Answer:
Following factors are taken into consideration while forecasting for sales quantity:
★ Analysis of Past Trend
★ Reports by Salesmen
★ Market Research and Market Survey
★ General Economic Conditions
Following factors are taken into account while forecasting for selling price:
★ Cost price of the product
★ Expected amount of profits
★ Selling price charged by the competitors
★ Advertisement and sales promotion techniques used by the company.
★ Analysis of Past Trend
★ Reports by Salesmen
★ Market Research and Market Survey
★ General Economic Conditions
Following factors are taken into account while forecasting for selling price:
★ Cost price of the product
★ Expected amount of profits
★ Selling price charged by the competitors
★ Advertisement and sales promotion techniques used by the company.
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