Sales History
This article covers meaning & overview of Sales History from marketing perspective.
What is Sales History?
Summarised data of a company’s revenue from the sales of a product (goods or services) for a given time period (months or years). Sales History is used for sales forecasting, i.e. predicting future sales of a product or the sales of a future product. Sales forecasting in-turn helps to determine volume of future sales, which is important information for budgetary allocations. Hence, sales history forms the base of important product decisions.
Sales history helps the analysts determine the recent sales trends to spot patterns of buying behaviour or cycles in sales revenue. These trends may be spotted by noting one or more of the following:
1. Type of product
2. Region of sales
3. Season of the year
4. Categories of customers (by gender, age, occupation) etc.
This, together with recent economic trends and market developments, results in strategy formulation for the new product.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
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