What is a sales potential?

Sales Potential is an figure indicating the maximum or total sales from all prospective buyers of the product. Market potential is a marketing exercise which estimates the maximum potential a product can have. Sales potential is generally a percentage of the total market potential.Click to see full answer. Similarly, you may ask, how do you calculate sales potential?calculation of the greatest amount of potential sales of a particular product in that product industry in a specific time period. The total market potential is calculated by multiplying the number of buyers in the market by the quantity purchased by the average buyer, by the price of one unit of the product.Also, what do you mean by personal selling? Personal selling is where businesses use people (the “sales force”) to sell the product after meeting face-to-face with the customer. The sellers promote the product through their attitude, appearance and specialist product knowledge. They aim to inform and encourage the customer to buy, or at least trial the product. In this way, what is the difference between sales potential and sales forecast? The market forecast is the prediction of how much of all brands in a product category will be sold in a given time, while sales forecasts predict sales of a single brand. Sales potential is typically expressed as a percentage of market potential based on market share predictions.What is the purpose of sales forecasting?The purpose of sales forecasting is to provide information that you can use to make intelligent business decisions. For example, if your forecast indicates a 30% increase in sales of products or services, you may wish to begin searching for larger business premises and hire additional staff to meet the demand.