Marketing illustration Marketing theory

Forecasting and business trends

A forecast is a projection into the future that is based on evidence of past results, or on other appropriate information (e.g. what is happening in a similar market).

A survey carried out in 2000 revealed that online sales of music and videos and associated software are on course to account for 20% of the total market within 5 years. In order to create such a forecast it is necessary to look at figures for previous years e.g. 1998, 1999, and then 2000 to work out what the trend was. Using these trend figures it is then possible to forecast into the future. Forecasting is very important in marketing because it helps to give clear indications of what future demand for goods and services are likely to be.

Marketing involves anticipating customer needs and requirements. Forecasts then make it possible to respond to these changes.

Typical forecasts that help marketing are:



Supporting Documents

These downloads will help to put marketing theory into context using real world examples from real businesses.

Sponsorship as part of the marketing mix
Ford logo

Discover how Ford employed marketing theory to prosper in the automotive industry by downloading our premium case study.

Re-focussing a company's culture and marketing mix
Argos logo

Find out how Argos applied marketing theory to succeed in the retail industry by downloading our premium case study.

Meeting customers' needs in growth markets - online gaming
BT logo

Learn how BT applied marketing theory to thrive in the telecommunications industry by downloading our premium case study.

Using sponsorship to increase brand awareness
Infiniti logo

Learn how Infiniti applied marketing theory to thrive in the automotive industry by downloading our premium case study.

Meeting customers' needs
Travis Perkins logo

Discover how Travis Perkins employed marketing theory to thrive in the construction industry by downloading our premium case study.