4 What are the various factors that are influencing in setting of budget? Various factors influencing budget setting
Answer: – Various factors, such as the following, have to be considered while setting the budget:
- Product
- Competition
- Market share
- Market situation
- Distribution system
- Sales decay rate
- Unexploited sales potential
Product
Various factors related to the product such as the product type, stage in the product life cycle, complexity of features,
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