5.02 Entrepreneurship I

6. Sales forecasting that predicts sales for periods of less than three months; used to aid in day-to-day decision-making regarding planning, scheduling, staffing, inventory, etc.
9. Sales forecasting that predicts sales for periods of three months to two years; used to plan quarterly or yearly budgets or to determine whether to make capital expenditures (purchases of equipment, land, etc.)
11. A prediction of future sales over a specific period of time
13. The stages through which goods and services move from the time they are introduced on the market until they are taken off the market
14. A point of reference
15. Features of the current marketplace (e.g., interest rates, level of competition, employment rates)

1. Sales forecasting that predicts sales for periods of more than two years; used when making strategic plans to develop new products, enter new markets, build new facilities, etc.
2. Sales forecasting that is based on the analysis of hard facts or numerical data
3. An estimate of income and expenses for a particular period of time
4. Sales forecasting that is based on expert opinion and personal experience
5. A statement of a business’s goals and an outline of its strategies to reach those goals
7. A magazine or newspaper
8. A long-term plan
10. Specific selling goals set for members of the sales force
12. The goods a business has in stock