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Differences between top down & bottom up sales forecast?

Describe the differences between the top down and the bottom up sales forecast methods. Describe advantages and disadvantages of each. Do you think one approach is likely to be more accurate than the other? Explain.

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Top down is a forecast created by knowing the major initiatives from the leadership for the upcoming forecast period and developing a sales total based on the past and from those proposed plans. Management would likely consider capacity, past demand, product life cycles, their perception of competition ...

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