The first step in forecasting sales for a proposed new retail outlet is to define the market or trade area where the store would derive most of its sales.

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This is true. Before forecasting sales, it is important to define the market or trade area where the store would be operating and where it is expected to derive most of its sales. This analysis helps to evaluate the potential demand, competition, and various other factors that can affect the performance of the new retail outlet.

The First Step in Forecasting Sales for a Proposed New