ns.
There are principal elements which are required for accu rate sales forecasting, regardless of forecasting method employed. Those elements applicable to the sales effort at Mervyn's are as follows (Kotler, 1987):
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1. Past experience. Past experience data are the most widely used; however, they often provide misleading projec tions. Mervyn's, as is true of most department stores, relies, to some extent, on past experience.
2. Pricing policies. Pricing policies provide indica tors of future demand. Mervyn's also relies on pricing poli cies in the development of sales forecasts.
3. General economic conditions. General economic con ditions exert a strong influence on buying decisions. These con ditions are considered at Mervyn's.
4. Industry specific economic conditions. Industry specific economic conditions have effects within specific industries, which are similar to those ca
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